European law firm advises on £25m IPO listing

Growth | North West | Technology

FieldfisherEuropean law firm Fieldfisher has advised brokers Mirabaud Securities on crypto-mining service provider Argo Blockchain’s £25m IPO.

Fieldfisher corporate partner Anthony Brockbank advised Mirabaud Securities in their capacity as sole bookrunner and corporate broker to crypto-mining company Argo Blockchain PLC, which listed on the London Stock Exchange’s main market.

Commenting on the transaction, Anthony Brockbank, Partner, Corporate at Fieldfisher, said: “The first standard listing of a crypto-mining service on the London Stock Exchange signifies that cryptocurrencies and fintech are set to become a mainstay on the UK capital markets.

“We expect to see further IPOs in this space as the investment community becomes increasingly familiar with cryptocurrencies and we at Fieldfisher look forward to seeing how this sector evolves.”

The IPO was the first standard listing of a cryptocurrency service provider completed in the UK. The company raised £25m at IPO, valuing it at a market capitalisation of £47m.

Based in the UK, Argo Blockchain operates a global data centre which allows consumers to participate in mining leading crypto-currencies, such as Bitcoin, Ethereum and Zcash.

The company’s cloud-based Mining as a service (Maas) platform can be used by anyone, anywhere in the world on a monthly subscription, without the need for computing expertise or complex hardware.

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