LONDON, 27 January, 2011 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to announce that it has acted as sole broker to Asian Plantations Ltd (LSE: PALM) on a £16m fundraising.
The fundraising, subject to shareholder approval, will be used to pursue acquisitions of new, titled land in Malaysia and provide working capital to develop existing assets.
Panmure Gordon Group Chief Executive, Tim Linacre, commented: “We are delighted to have acted for Asian Plantations on this transaction. It is a high quality growth company with an ambitious management team and this fundraising will help the company’s continued expansion.
“Panmure Gordon gained Asian Plantations as a client last year, along with several other companies with an Asian or Sub-Saharan African operation and focus. We believe that quality companies, in regions of the world that continue to record enviable growth rates, represent a compelling investment case to London-based investors.”