Ashurst is advising Numis Securities Limited on the proposed London IPO of McColl's Retail Group ("McColl's" or the "Company"), one of Britain's biggest convenience store chains and the first retailer to announce its IPO this year. McColl's is a leading neighbourhood retailer established in 1973 by its Chairman and CEO, James Lancaster.  It has 1,2761 stores serving the convenience and newsagent sectors and a strong national presence across the UK.

Application will be made for the shares to be admitted to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange. The offer will comprise an issue of new ordinary shares to raise £50 million to repay outstanding debt. The offer also includes the partial sale of existing shares held by some of McColl's current shareholders, principally Cavendish Square Partners (General Partner) Limited and members of McColl's management. The IPO is expected to complete by the end of February 2014.

In connection with the IPO and admission, Numis Securities Limited is acting as sole sponsor, financial adviser and bookrunner and Livingstone Partners LLP is acting as financial adviser to the Company.

The Ashurst team is led by corporate partner Nick Bryans, assisted by senior associate Padmini Singla, associate Lucy Phillips, solicitor Sarah Leiper and trainee solicitors Matthew Stock and Aimee Caroll-Hewitt. Counsel Caroline Chambers also assisted on the deal.