Law firm Hill Dickinson has advised Fairview International PLC, the owner of two (2) international schools that follow the International Baccalaureate (IB) curriculum, on the company’s admission to the Main Market of the London Stock Exchange.
The company’s shares were admitted to the Equity Shares (Transition) Category of the Official List and to trading on the Main Market on 11 October 2024 with an initial market capitalisation of £55.6 million having raised £2.65 million on admission through a placing and subscription.
Fairview’s successful admittance to the LSE’s Main Market will support its plans to develop a wider network of schools offering international education, including the IB programmes, both in Asia and in the UK.
Hill Dickinson corporate partner Jonathan Morris led on the provision of legal advice to Fairview, together with senior associate Amy Grosvenor, associate Amelia Chung and paralegal, Elly Falbo.
Fairview currently owns two IB World International Schools that offer the IB programme - in Kuala Lumpur and the southern state of Johor, Malaysia, near the Singapore border. A further three schools in Malaysia and one in the UK also trade under the Fairview brand and are owned by Fairview’s largest shareholder.
This was a fascinating deal to work on. It is great to see a mature profitable business like Fairview coming to London to IPO. We are particularly excited by Fairview’s acquisition strategy given the continued strong demand for IB education from the Asian market. We hope this is the beginning of a trend of businesses from overseas, particularly those countries with strong ties to Britain, such as Malaysia, seeking listing in London. It is good to be reminded how prestigious a London listing remains in many parts of the world.Jonathan Morris
Corporate Partner
Jonathan Morris said: “This was a fascinating deal to work on. It is great to see a mature profitable business like Fairview coming to London to IPO. We are particularly excited by Fairview’s acquisition strategy given the continued strong demand for IB education from the Asian market. We hope this is the beginning of a trend of businesses from overseas, particularly those countries with strong ties to Britain, such as Malaysia, seeking listing in London. It is good to be reminded how prestigious a London listing remains in many parts of the world.”
Daniel Chian, Chairman of Fairview International, commented: “The conclusion of our IPO is the beginning of the next step in our expansion as we seek further opportunities to grow the Fairview network of schools in Asia and the UK. According to the Asian Development Bank, the middle class in Asia will number 3.5 billion and account for over 65 per cent. of the global middle-class population by 2030. The IB curriculum’s emphasis on critical thinking, global citizenship and multilingualism aligns closely with the values and aspirations of many Asian families. We believe that Fairview is well placed to serve this rapidly growing marketplace, through both organic growth and by successful acquisition and integration.
“The Fairview network is over 40 years old with a commitment to providing high quality international education at a competitive cost. Being a publicly listed company on the London Stock Exchange further distinguishes us and underlines our ambition to grow our schools and reputation. We are very proud to begin Fairview’s journey on the LSE.
“We are grateful for the support and advice provided by our team of advisers in guiding us through the IPO and completing it successfully.”