Squire Patton Boggs Equity Capital Markets team has advised Luceco plc, a manufacturer and distributor of high-quality and innovative LED lighting products and wiring accessories, on its successful initial public offering (IPO) and admission to trading on the Main Market of the London Stock Exchange. The IPO, which comprised an offer of new and existing shares in Luceco, was priced at 130 pence per share, which translates to a market capitalisation of approximately £209 million.
UK-based Luceco plc supplies trade distributors, retailers, wholesalers and project developers with a wide range of products through its brands Luceco LED (energy efficient LED lighting products), British General (wiring accessories, circuit protection and cable management products), Masterplug (cable reels, extension leads, surge protection, timers and adaptor products) and Ross (television wall mounts and audio visual accessories).
The Squire Patton Boggs team advising long-standing client Luceco plc was led by Equity Capital Markets partner Adam Hastings and included Corporate associates Hannah Graham and Maxine Burton.
Commenting on the IPO, Adam Hastings said: “We are delighted to have acted for Luceco on their IPO, which represents a significant step in the continuing growth of their business. It is particularly pleasing to have been part of such a successful listing in what has been a challenging market for IPOs and capital markets generally.”
Relationship partner James McKay added: “We have advised Luceco on a number of important transactions over the years, and I am pleased our team has again supported a much valued client, this time on an important move onto the Main Market in London.”