Carey Olsen advises first UK trading company to list on TISE

Carey Olsen's corporate team in Guernsey has advised UK flooring specialists, Likewise Group plc, on its successful listing on The International Stock Exchange (TISE). The listing represents the first UK trading business to list its shares on TISE.

Likewise has raised £7 million through an offer for subscription of 70,000,000 shares which it intends to use for working capital and future acquisitions that will enable the Group to consolidate the distribution section of the floor coverings market and to gain national scale.

The Carey Olsen team included partner David Crosland with assistance from James Cooke, Colin Calvert and Kate Everitt who advised on the Guernsey aspects of the listing alongside UK counsel Gateley plc.

Mr Crosland said: "As the leading legal adviser to TISE-listed clients, Carey Olsen is pleased to have been involved with the latest example of an SME listing their shares on the exchange and to be assisting the Likewise Group with its plans to expand their business in the UK. TISE is proving itself to be a pragmatic and cost-effective means for companies to go public and our pipeline shows an increasing interest amongst UK and Channel Islands-based SMEs in utilising the exchange for this purpose."

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