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New Guernsey listing to target entertainment and leisure sectors

03 March 2015

Collas Crill has acted as Guernsey legal adviser to Challenger Acquisitions Limited on its successful capital raising and listing on the London Stock Exchange's (LSE) Main Market.

Challenger is a Guernsey company formed to undertake acquisitions of companies or businesses in the entertainment and leisure sectors.  

Sean Cheong, Partner at Collas Crill Guernsey, said: "We are delighted to be working with the principals of Challenger and their advisers in this new venture. We look forward to supporting Challenger in the acquisition phase of its growth."

The Challenger Board, comprising Mark Gustafson, Chairman, Markus Kameisis, Chief Financial Officer and Gert Rieder, Non-Executive Director, collectively has a proven track record of raising money for listed entities, making substantial acquisitions, and operating and growing a wide diversity of businesses, and collectively subscribed for 700,000 shares on Admission.

Guernsey continues to lead on the number of non-UK entities listed on the LSE. Data shows that at the end of January 2015 there were 119 Guernsey-incorporated entities listed on the Main Market, the Alternative Investment Market (AIM) and the Specialist Fund Market (SFM). Guernsey is trailed by Jersey (90), Isle of Man (54), Ireland (53), Cayman (51), BVI (44), Bermuda (41), Russia (34), India (32) and the US (30).

Ms Cheong commented: "A significant proportion of the Guernsey companies currently listed in London are investment funds; however we are seeing increasing activity in other business sectors. Both Guernsey and Jersey have developed strong expertise in servicing and advising listed companies and remain attractive to international businesses accessing the London Stock Exchange. There is growing interest in our Channel Islands' offering amongst Asian clients looking to raise capital in London on AIM."

Leon Santos, Group Partner at Collas Crill's Singapore office, added: "Many small to mid-sized South East Asian companies continue to be attracted to the London Stock Exchange, as it gives access to a global pool of capital and because of the efficiency of the listing process. Collas Crill is able to offer clients responsive advice across the Asian and UK time zones, which is key for clients based in Asia."

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