Corporate services provider SMP Partners has played a lead role in the recent listing of the Isle of Man based Zhaikmunai Limited Partnership on the London Stock Exchange.
The holding entity of an independent oil and gas enterprise operating in North-West Kazakhstan, Zhaikmunai made LSE history as the first ever limited partnership to be admitted for unconditional trading on London's main market. The transaction raised US$100 million through the admission of global depository receipts.
The flotation involved close cooperation between the Government, Zhaikmunai LP and numerous professional advisers, including Isle of Man law firms, Cains and Mann and Partners, further demonstrating the Island's flexible approach to facilitating new business.
SMP Chairman Steve McGown said: 'The Isle of Man deserves special praise for its crucial role in this pioneering flotation. The Island's commitment to innovation and a business-friendly approach are facilitated by a close and unique relationship between industry and government.'
The Isle of Man based CSP is celebrating a year since its management buy-out from Fortis InterTrust Group. Built on extensive market experience, the business has been satisfying the capital market ambitions of international corporate groups for a number of years. Zhaikmunai is one of a number of international capital market transactions in which SMP is currently involved.
Working in close partnership with leading law firms, corporate advisers and accountants, the Isle of Man based company has facilitated listings on the LSE main market and AIM through the provision of a comprehensive range of professional, corporate and trust services.
Treasury Minister Allan Bell added: 'We are delighted to see yet another example of the Isle of Man's lead role in bringing overseas companies to the London market. In the face of current market volatility, the Island continues to attract high quality companies by being a responsive, flexible and efficient jurisdiction and by staying true to its commitment to giving businesses the freedom to flourish.'
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