Lender Davenham retains Smithfield

Smithfield has picked up the retained financial comms brief for asset-based lender Davenham.

Smithfield director Reg Hoare led comms on the listing of the Manchester-based company, which began trading on the AIM on
22 November.

The company raised £44.6m through the placing and is using £17.2m of the proceeds to redeem certain loans notes and debt. A further £10.5m will go on the cost of the flotation.

Fund managers Dunedin and Indigo, which backed a buyout of the company in 2000, remain shareholders in Davenham.

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