Fieldfisher advises Strand Hanson and Cavendish on the first AIM IPO of 2025

European law firm Fieldfisher is pleased to announce that it has advised financial advisory firm Strand Hanson and investment bank Cavendish Capital Markets on the Initial Public Offering (IPO) of RC Fornax Plc on the AIM market of the London Stock Exchange. This is the first IPO of the new year. 

The timing of this transaction coincides with the latest AIM Advisers Ranking Guide, which sees Fieldfisher retain its position as the number one firm by total AIM-listed clients. 

RC Fornax Plc is an established, highly accredited engineering consultancy, formed to define and execute engineering design projects. The company focuses on supporting the UK defence industry and aims to build strong, lasting relationships with its clients. 

The IPO marks RC Fornax's transition from a private company to a publicly traded entity in the UK for the first time, which will significantly aid in the expansion of its business. By raising over £5 million, RC Fornax plans to accelerate its growth, including developing an innovative AI tool to enhance its engineering projects. The IPO also provided the two founders with an opportunity to sell down some of their existing shares. 

The Fieldfisher team was led by Equity Capital Markets partner Dominic Gurney-Champion, with support from senior associate Dana French and solicitor Habibah Alao. 

Dominic Gurney-Champion said: "We are very pleased to have supported longtime clients Strand Hanson and Cavendish Capital Markets on this IPO. It is a testament to both of them that they managed to deliver the IPO in an environment that is still challenging for the public markets. We are also very proud to remain ranked as the number one adviser for AIM Companies." 

This deal follows a series of capital markets transactions for Fieldfisher at the start of the new year, including advising long-standing client Cornish Metals Inc. on its £56 million fundraising (including a £28.6 million strategic investment by the Government's National Wealth Fund), advising AIM-listed Southeast Asian energy company, Coro Energy Plc on their debt and equity recapitalisation and advising AIM listed Synairgen on its £18 million fundraising to fund its phase 2 clinical trials.