London, United Kingdom –12 July – LAWFUEL – The Law News Network – Jumpit ASA was admitted today to trade on the AIM market of the London Stock Exchange. Jumpit is based in Oslo, Norway, and is the first Norwegian company to float on AIM.
Dechert advised Jumpit both on the AIM admission and a related £3 million placing of ordinary shares with institutional investors. At float, the Company was valued at approximately £19.5m.
Jumpit is a developer of disposable and rechargeable batteries for use in the rapidly developing handheld devices market. Its products include the Cellboost branded disposable batteries, which can be used for mobile phones, portable Sony PlayStations, Blackberrys, IPods, camcorders and Nintendo’s Game Boy.
Said corporate partner James Croock, who led the Dechert team: “It was extremely satisfying to be able to assist Jumpit to successfully complete its London listing. The transaction involved solving complex issues relating to the clearing and settlement of Norwegian securities. As Jumpit is the first Norwegian company to seek a primary listing of its shares outside Oslo, it was important to work closely with the Company and its other advisers to resolve the regulatory and legal issues surrounding this complicated area and to put in place arrangements which should make it easier for other Norwegian companies to list on AIM.”
In addition to James, associates Sean Geraghty and James Stonehill assisted on corporate matters, with associate Stuart Goldberg advising on intellectual property issues.