Stephenson Harwood Advised on two AIM IPOs in a week, Signalling Renewed Momentum for London listings
Law firm Stephenson Harwood LLP has advised on two successful AIM initial public offerings (IPOs) in the space of a week
Stephenson Harwood Advised on two AIM IPOs in a week, Signalling Renewed Momentum for London listings
Law firm Stephenson Harwood LLP has advised on two successful AIM initial public offerings (IPOs) in the space of a week, marking a significant achievement in what remains a challenging market for new London listings. The firm acted for Power Probe plc on its £60 million AIM IPO and simultaneous placing, and for Strand Hanson and Cavendish in their respective roles as nominated advised and broker to Pathos Communications plc on its £20 million AIM IPO.
Power Probe plc, a leading producer of automotive electrical diagnostic tools for professional service technicians, has admitted its entire issued ordinary share capital to trading on AIM. The IPO, which raised gross proceeds of approximately £11 million, will support the opening of a new US manufacturing facility, strengthen the company’s innovation pipeline, and enable expansion into new geographies, including the development of a UK distribution facility in Nuneaton. Headquartered in Charlotte, North Carolina, Power Probe has grown since 1992 to become an internationally recognised brand in the specialised automotive electrical diagnostics market. Upon admission, the company will have a market capitalisation of approximately £60 million.
In a further demonstration of the firm’s capital markets expertise, Stephenson Harwood also advised Strand Hanson and Cavendish in their respective roles as nominated adviser and broker to Pathos Communications plc on its AIM IPO. Pathos Communications is a technology-enabled, human-led PR company leveraging AI-driven technologies to deliver media solutions for SMEs. The IPO also included a placing of new and existing shares, the proceeds of will support Pathos’s continued growth, further development of its proprietary AI technologies, and expansion into new markets. Upon admission, the company will have a market capitalisation of approximately £20 million.
"Advised on two AIM IPOs in a single week is an impressive achievement for our team and encouraging for our clients, especially in the current market environment,” said Partner Tom Nicholls, Head of Stephenson Harwood’s Corporate practice. “These transactions highlight the depth of skill and capability within our capital markets practice, and demonstrate that London remains an attractive venue for ambitious companies seeking to list.”
Stephenson Harwood has acted on 5 London IPOs in 2025, including those for MHA plc, Vulcan Two Group Plc and KR1 Plc.
The Stephenson Harwood team advised Power Probe was led by Tom Nicholls (Partner), supported by David Dowding (Corporate Partner) and Tom O'Connor (Associate), Seline Velioglu (Associate) and Billy Gregory (Associate); Nicholas Stretch (Incentives Partner) and Desiree De Lima (Associate) and Luc Foley (Associate); Richard Freedman (Employment Partner) and Eirini Haidemenos (Associate); Annabel Goulding (Commercial Litigation Associate); Joyce Kola (Real Estate Associate); John Meehan (Partner/ Tax) and Janice Houghton (Associate) and Alexandra Pygall (IP, Tech and Data Partner), Nic McMaster (Managing Associate), and Brian Hartnett Cabeza (Associate).
The team advised Pathos Communications was led by Tom Nicholls, supported by Associates Tom O’Connor and Eleanor Wardley.
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