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Dubai construction specialist RA International raises $24.83mn with IPO in London

Advising firm Denton’s says RA International’s IPO hits London AIM market sweet spot

Law firm Dentons says it advised Dubai-based construction services provider RA International Group PLC on its successful initial public offering (IPO) and admission to London’s AIM Market.

The company was admitted to AIM at the June with a market capitalisation of $128.39 million helping to raise gross proceeds of $24.83 million.

Headquartered in Dubai, RA International provides construction, integrated facilities management, operation and maintenance, accommodation, and supply chain services to remote locations in Africa and the Middle East. According to Dentons, “the group provides comprehensive, flexible, mission-critical support to its clients, which include UN agencies, UK and US government agencies, and global corporations, enabling them to focus on the delivery of their respective businesses and services.”

“Becoming a public company will provide an appropriate structure for the long-term development of the business and enable us to strengthen our team in order to deliver our services on a much larger scale and in new territories,” said Soraya Narfeldt, CEO. RA International.”Dentons has been instrumental in helping us achieve this IPO. With their expertise and knowledge of AIM IPOs and fundraisings, we had every confidence that we were in good hands.”

Dentons’ Corporate partner Neil Nicholson led on the IPO and said the firm had been pleased to have assisted RA International with the successful listing.

“Going public will position the company for the next phase of its development and enable it to capitalise on some exciting opportunities within its sector,” said Nicholson. “Mid-market IPOs and fundraisings are a sweet spot for Dentons, and this deal adds to our enviable track record in this area.”

Dentons revealed that its recent AIM experience includes advising on the %264.18million AIM IPO of QUIZ plc in 2017, which was “one of the year’s most significant AIM IPOs”, and also acted for Hurricane Energy plc on its$520 million fundraising last year.

 

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