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Ashoka WhiteOak Emerging Markets plc joins the Main Market
17 May 2023

Successful IPO for Ashoka WhiteOak Emerging Markets Trust plc

Buchanan is delighted to have supported Ashoka WhiteOak Emerging Markets Trust (“AWEM”) on its successful IPO (LON: AWEM). The Company commenced trading on the Main Market of the London Stock Exchange on Wednesday, 3 May 2023.

The investment company will seek to achieve long-term capital growth, primarily through investing in equities that provide exposure to Global Emerging Markets. AWEM will provide investors with the opportunity to generate alpha through exposure to a portfolio of great companies at attractive valuations.

“Buchanan delivered a remarkably successful result in communicating & promoting the AWEM opportunity against a particularly challenging background for new IPOs, let alone investment company ones. They obtained a most impressive range of media coverage including with several major commentators whose endorsements were undoubtedly critical in securing the launch & listing of the new Company, and they demonstrated handsomely just what an effective PR campaign can achieve when executed & managed as professionally as they did.”

Martin Shenfield, Non-Executive Chairman of Ashoka WhiteOak Emerging Markets Trust plc

AWEM is the first premium listed IPO in the investment companies sector since November 2021 and the first listed equities-focused investment trust launched since 2018.

Buchanan advised AWEM throughout the IPO process and achieved significant supportive media coverage during the offer period, leading to substantial demand on retail investment platforms.

“The Buchanan team were an integral ingredient to the successful IPO of AWEM, where a well thought-through media plan delivered two prominent articles in the weekend editions of leading national newspapers, in addition to other specialist publications. In our opinion this is the best press coverage of any IPO that Ellora team members have worked on historically. Buchanan adds a great deal of value, based on their leading understanding of the investment companies universe and built on a solid network of quality, longstanding relationships.”

Oliver Kenyon, Corporate Finance at Ellora Partners

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