Travers Smith Corporate Partner Andrew Gillen and Corporate Senior Associate Daniel Simons have advised Canaccord Genuity Limited (as sole bookrunner, financial adviser and joint broker) and Charles Stanley Securities (as joint broker and nominated adviser) on Tungsten Corporation plc's ("Tungsten") £225 million AIM IPO, which was admitted to trading on 16 October 2013 and which raised £160 million before expenses through an institutional placing.

Tungsten’s strategy is to monetise its leading global e-invoicing network which processes over £100 billion per year for many of the world’s largest companies (including working with 61 per cent. of the FTSE 100 and 53 per cent. of the Fortune 500), by offering supply chain financing through its own bank.  Additionally, it will offer innovative analytics software to apply to the vast repository of invoice data and so save its buyers’ money.

Ashurst advised Tungsten.