Hill Dickinson advises Cairn, Hannam & Partners, Oak Securities and SI Capital on AIM IPO of Helix Exploration plc

Hill Dickinson’s Equity Capital Markets team has recently advised Cairn Financial Advisers, together with brokers Hannam & Partners, Oak Securities and SI Capital in connection with the admission of Helix to AIM, together with an associated £7.5 million placing.

Cairn Financial Advisers acted as nominated adviser to Helix in relation to the IPO, with Hannam & Partners, Oak Securities and SI Capital acting as joint brokers on the oversubscribed placing which had a book of demand over £22 million to raise gross proceeds of £7.5 million.

Helix shares were admitted to trading on 9 April 2024, with the ticker ‘AIM:HEX’ and a market capitalisation on admission of approximately £12.2 million.

Sam Hudson, partner, and Natalia Fryda, senior associate, from the Equity Capital Markets team led on the transaction. They were assisted by trainee solicitor, Mariam El Mir.

Helix is focused on the exploration and development of low risk, large-scale helium deposits within the ‘Montana Helium Fairway’. The company’s assets comprise of 52 leases over the Ingomar Dome Project, with a large closure of 16,512 acres, a P50 unrisked prospective helium resource of 2.3Bcf and an upside estimate of 6.7 Bcf. Historic drilling and/or testing has identified gas in all target reservoir horizons.

Sam Hudson commented: 
“We are delighted to have advised the nominated adviser and joint brokers on this fantastic IPO, especially against the backdrop of difficult market conditions over the last 12 months. The fact that the placing was so significantly oversubscribed is a testament to the quality of the project owned by Helix, as well as the performance of the brokers and nominated adviser working on the transaction. We look forward to following Helix’s journey as they look to advance their drilling campaign.”