Charles Russell Speechlys acted for MayAir Group Plc on its admission to AIM. The company successfully raised £16.2 million via the placing of 12,475,000 new ordinary shares at a price of £1.30 per share, valuing MayAir at £55.2 million.

MayAir (or “the Group”) is a leading provider of advanced technologies and products to create contamination-free environments (known as a “cleanroom”) in the industrial, commercial and residential markets.

The Directors of MayAir hope the listing on AIM will strengthen the Group’s profile with existing and potential customers and support the development of the brand in Asia, as well as globally. Additionally, it will provide the Company with the financial flexibility to pursue growth opportunities.

Specifically, MayAir intends to use the funds raised along with its existing cash resources, for business expansion and development of the Group’s commercial and residential solutions. It will also use the proceeds for R&D and new product development as well as and the construction of a new factory.

The Charles Russell Speechlys’ team consisted of Partner Andrew Collins who led the deal, with the support of Paul Arathoon (Senior Associate) and Amelly Kok (Associate).

Corporate Partner Andrew Collins said:

“Charles Russell Speechlys is delighted to have assisted MayAir on its successful IPO and very much enjoyed working with the MayAir team. We look forward to seeing the Company in its next stage of growth and development”

Speaking of the transaction, MayAir commented:

“We are delighted for the successful completion of MayAir’s IPO on AIM. Appointing Charles Russell Speechlys as our solicitors for the IPO exercise was absolutely the right decision and we would like to thank the team for extending such great support, hard work and dedication throughout the process.”

This is the fifth technology sector IPO for Charles Russell Speechlys in the last 12 months following the successful IPOs of Marimedia, TekCapital, Premaitha Health and Bioventix.