03 June 2019

Carey Olsen advises Sandpiper on TISE listing

Carey Olsen's corporate team in Jersey has advised Channel Islands retailer SandpiperCI Group Limited (SandpiperCI) on its successful listing on The International Stock Exchange (TISE).

The initial public offering (IPO), which took place on Friday 31 May, saw SandpiperCI’s entire issued ordinary share capital admitted to the Official List of TISE, with an opening market capitalisation of £75 million.

SandpiperCI has also entered TISE’s Channel Islands market segment, which is dedicated to trading companies operating from Guernsey or Jersey which issue equity that is listed on the Exchange.

Acting as lead counsel, the Carey Olsen team advising SandpiperCI was led by partner James Willmott with assistance from senior associate Katherine Tresca and associate Natasha Lyons. Stockbroker and investment manager Ravenscroft Limited sponsored the listing.

James said: "We are delighted to have assisted SandpiperCI on its IPO, having worked with the business since its takeover of CI Traders in 2007. Carey Olsen is the leading legal adviser to TISE-listed clients, and a listing of this size underlines the continued attractiveness of TISE as a stock exchange."