Guernsey Finance

Carey Olsen continues to advise more clients listed on the London Stock Exchange’s Alternative Investment Market (AIM) than any other offshore law firm.

According to the latest rankings produced by market analysis firm Hemscott for the quarter ending 9 July 2010, it is the only offshore law firm in the top ten. Carey Olsen takes sixth place for advising FTSE AIM 100 companies on listings and has maintained its second ranked position in relation to the number of current AIM-listed financial clients.

The firm was also confirmed as a top ten legal advisor in the more comprehensive Hemscott Corporate Advisers Rankings Guide published earlier this year in May which includes all the FTSE listed companies. This report highlights Carey Olsen as advising more FTSE and AIM clients than any other offshore law firm.

Chairman John Kelleher said the latest Hemscott rankings show that Carey Olsen continues to match major City firms in providing services to listed clients.

“The report reflects the position of the Channel Islands as leading jurisdictions for the establishment of AIM and main market investment companies and is an endorsement that Carey Olsen is the firm of choice for legal advice in the Channel Islands," he said.

Carey Olsen has recently advised Bellzone Mining plc on its listing on AIM.  The firm has also recently acted on two prominent migrations from AIM to London’s main market, having advised Macau Property Opportunities Fund Limited, a Guernsey domiciled Asian property investment fund, and Raven Russia, a commercial property investment company, on their respective LSE moves.

Raven Russia Limited is a Guernsey-domiciled investment company specialising in commercial real estate in Russia. The company is focused on the acquisition and development of high quality, class A, warehouse complexes in the major cities across Russia, and their subsequent leasing to Russian and international tenants.

The Carey Olsen team was led by Corporate Partner Ben Morgan, who was assisted by Senior Associate Geoff Ward-Marshall.

Mr Ward-Marshall said: “We have advised on numerous migrations of Guernsey investment vehicles to the main market over the past six months which have been prompted by increasing market optimism and the added advantages that the listing brings to the vehicle."

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