Taylor Wessing has advised Boku Inc., the world’s leading independent direct carrier billing company, on its institutional placing and initial public offering on the AIM Market of the London Stock Exchange raising £45 million, based on a market value for the company of £125.9m, to invest in future growth opportunities, as well as to raise proceeds for certain selling shareholders. The placing, which was significantly oversubscribed, saw strong demand from a wide range of institutional investors.

Boku is partnered with Apple in its rollout of carrier billing for the App Store and also works with Google, Microsoft, Facebook, Spotify and some 173 carriers to allow users to pay for digital goods like apps and subscriptions via their mobile bills.

Jon Prideaux, CEO of Boku Inc, said: “Admission to AIM strongly positions the company as we continue our growth plans, particularly enabling us to invest in new product development for the long-term benefit of the business and our customers. We were very pleased with the response which Boku received from the market on IPO, and the team effort that went in to making it a success. The Taylor Wessing team were a core part of that, and their expertise and dedication was an important component in executing this transaction.”

Corporate partner Jeremy Landau, added: “It is always very satisfying to advise a company as they make their initial public offering, but it was particularly exciting to work with Boku on theirs. The mobile payments revolution is in full swing, and Boku’s heavily oversubscribed IPO is a sign both of the market’s confidence in the sector, and in Boku’s particular strength as a platform. We look forward to working with Boku as they continue to transform the mobile payments market, and we continue to work with a multitude of other similar companies now looking to IPO on the London Markets”.

The Taylor Wessing team was led by partner Jeremy Landau, with support from James Homan, Lucy Bowler, Lauren Clarke and Sasha Vallabh (Corporate),  Sian Skelton, Richard Craig, Katie Knowles, Sarah Earl (IT, Telecoms and Competition), Andi Terziu, Pramod Patel (IP & Media), Mark Smith, Emma Aylwin (Pensions), Andrew Granger, James Watkins, Michael Chattle (Employment), Jonathan Rogers, Chris Ratcliffe, Shona Watson (Financial Services Regulatory), Victoria Butcher (Real Estate), Richard Carson and Will Egan (Tax).