Collas Crill has played an integral part in a landmark IPO of a Guernsey collective investment scheme.
Onward Opportunities Limited (OOL) is a newly incorporated Guernsey company registered with the Guernsey Financial Services Commission as a closed-ended registered collective investment scheme. OOL sought Guernsey legal and regulatory advice from Collas Crill on its formation and regulatory approval, and latterly on its successful admission to trade on the London Stock Exchange's Alternative Investment Market (AIM).
OOL, managed by Dowgate Wealth Limited, will invest in smaller UK companies to support their growth and looks to be a driving force of enterprise in the UK. It is thought to be the first new LSE-listed fund to IPO since 2021, and is the largest AIM IPO of 2023 so far.
Gareth Morgan, Group Partner in Collas Crill's Guernsey Corporate, Finance and Funds team, said: 'Collas Crill prides itself on working with new entrants to the Guernsey funds market and helping them achieve their goals as quicky and efficiently as possible. In the current global conditions, speed to market matters. I look forward to working with the management team of OOL and with Dowgate Wealth on this and their future Guernsey structures.'
Laurence Hulse, Investment Director of Dowgate Wealth, commented: 'We are pulling together for clients, the three core ingredients to make money; a clear market opportunity, a bespoke strategy to capture it and the people required to execute the plan. This launch puts in place the foundations to grow an investment company that can actively engage with UK smaller companies we identify value in. I would like to extend my thanks to our seed investors and the whole team for providing this fantastic onward opportunity to build upon.'
Read OOL's press release here.