Buchanan were engaged to support with their external communications strategy and provide counsel to the company and its broker during the IPO process.
AWEM was the first premium listed IPO in the investment companies sector since November 2021 and the first listed equities-focused investment trust launched since 2018.
The company is seeking to achieve long-term capital growth, primarily through investing in equities that provide exposure to Global Emerging Markets.
Buchanan achieved a substantial amount of supportive media coverage during the offer period, educating and informing key sector commentators across a wide variety of media outlets including the Telegraph, Mail on Sunday, Citywire, Investment Trust Newsletter, Shares, Interactive Investor and many more.
This helped the company gain traction with private investors on retail investment platforms AJ Bell, Interactive Investor and Hargreaves Lansdown.
This demand played no small part in helping AWEM reach the required funding commitment to list on the Main Market of the London Stock Exchange.
There were several headwinds to navigate during the process, not least the cautious investor sentiment around new listings, highlighted by the fact that there was not a single investment company IPO in 2022.
Non-Executive Chairman of Ashoka WhiteOak Emerging Markets Trust plc
Corporate Finance at Ellora Partners