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IFM advised on $46.6m block trade

IFM advised on $46.6m block trade

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Investment company IFM Investors has sold its stake in Scottish Pacific.

Firm: Ashurst (IFM Investors)

Deal: IFM Investors sold its shareholding in Scottish Pacific Group Limited through a fully underwritten block trade.

Value: Approximately $46.6 million

Area: Equity capital markets

Key players: The Ashurst team advising IFM Investors was led by corporate partner Sarah Dulhunty (pictured) and included lawyer Kristen Wong.

Deal significance: Ashurst advised IFM Investors on the sale of its shareholding in business finance company Scottish Pacific.

IFM sold its 12.4 per cent stake in the company through a block trade underwritten by JP Morgan. At $2.70 per share, the sale raised gross proceeds of approximately $46.6 million.

The sale was completed on 1 September. IFM’s shares came out of escrow on 29 August after Scottish Pacific announced its FY2016-17 results.

Pictured: Ashurst partner Sarah Dulhunty

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