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News - 06 February 2013

The corporate team at Bates Wells & Braithwaite is off to a flying start this year announcing it has completed two AIM deals in January 2013.

These are the team's first transactions for each of Beaumont Cornish, Merchant Securities and Shore Capital and reflect its commitment to building its profile within the equity capital markets through its historic relations with advisors.

The team has acted on these transactions against a difficult market backdrop for medium sized companies, but believes the market is starting to pick up for such work, especially in the energy, natural resources and technology sectors.

Mark Tasker (pictured), Head of Corporate & Commercial at BWB says: “The 4th quarter of 2012 saw an upturn in AIM activity with £905 million being raised, an increase of 18% on Q4 in 2011. Once again the resources sector played a prominent role in 2012 accounting for 48% of the fundraisings. We expect AIM to continue to have a significant bias towards the resources sector for the foreseeable future.”

The team also thinks the technology sector is set for an interesting 2013. Low set up costs, a favorable tax environment and sophisticated investor community means that the UK and London in particular, is well placed for this sector to thrive.

“If the US economy continues to produce positive economic data and US budgetary issues can be resolved, then we expect confidence to grow and for deal volumes to rise in 2013. Our team has acted on over 35 AIM deals between them across a variety of sectors and jurisdictions and we look forward to building on this experience this year advising both companies and financial advisors,” adds Mr Tasker.