Hong Kong hedge and PE fund admin firm plans £100m London listing

Amicorp Fund Services (AMIF), a Hong Kong-based professional services firm, is preparing to list its fund administration arm in London. AMIF provides fund administration and regulatory reporting services to hedge funds, family offices and private equity and venture capital funds across Latin America, Europe and Asia.

AMIF is planning two placings on the London Stock Exchange (LSE) main market – one of new ordinary shares and one of existing ordinary shares. The placings are expected to raise gross proceeds of up to $6.5 million and up to $9.7 million, respectively (£13 million, combined) at a valuation of £100 million.

The offer price in respect of the IPO will be determined following a book-building process, with Admission currently expected to occur on 8 June 2023. A prospectus, which has been prepared in relation to the IPO and Admission, is expected to be published later today (5 June).

AMIF has engaged Bowsprit Partners Limited (Bowsprit Partners) as Financial Adviser and Lead Bookrunner, Locke Lord (UK) LLP as Solicitors and BDO LLP as Reporting Accountant and Auditors to the Company.

Amicorp chief Kin Lai said: "London retains its status as the world's leading market for the financial services sector and we believe a listing here will give us the best chance of executing our plan to consolidate the fragmented fund services market.

"Becoming a listed company is a significant milestone for the group as it will advance our expansion plans."

AMIF's listed entity will be headquartered in the UK. Its parent company, Amicorp Group, is based in Hong Kong.