Olswang has advised The People's Operator (TPO), the cause-based commercial mobile virtual network operator (MVNO), on its admission to trading on the London Stock Exchange's AIM market. The company raised £20 million, and the company has a market capitalisation on admission of approximately £100 million.

TPO was founded in 2012 and is the world's first successful cause-based commercial MVNO with a strategy of customer acquisition through viral networking and online communities. The company currently offers mobile phone services in the UK via the EE network. Its pay monthly and pay-as-you-go mobile contracts are competitively priced and allow users to direct 10 per cent of their monthly bill to a cause of their choosing at no additional cost to themselves. In addition, the TPO Foundation, a UK registered charity, receives 25 per cent of the UK trading profits generated by The People's Operator. It is anticipated that TPO will commence trading in the USA from Spring 2015 subject to receiving the relevant US regulatory licenses.

TPO has US internet entrepreneur Jimmy Wales - best-known as the co-founder of the free online encyclopaedia Wikipedia - as one of its directors and significant shareholders.

Andrew Rosenfeld, chairman of The People's Operator, said: "The Group's admission to AIM and the placing represents a significant milestone, giving us a strong platform from which to initially roll out our strategy in the world's largest mobile phone market, the US, and we look forward to providing shareholders with further updates on our progress. We are grateful for all of Olswang's support on the IPO."

Corporate Partner at Olswang, Simon Morgan said: "We are delighted to have worked with The People's Operator on its AIM IPO and to have seen such strong demand from high calibre investors. As a business committed to being responsible, Olswang is always thrilled to work with like-minded clients."

The Olswang team was led by Corporate Partner Simon Morgan with assistance from Corporate Senior Associate Ken Wilkinson, Corporate Associate Ben Taylor and Trainee Solicitor Natalie Coan.