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DWF advises on the initial public offering of virtual reality business Immotion Group

16 July 2018
International legal business DWF has advised Immotion Group plc on their initial public offering on the AIM market of the London Stock Exchange.
The DWF team based in Newcastle has acted for Immotion Group since it was incorporated in 2017 and assisted in the forming of the group by way of a three-way cross-border merger which completed at the beginning of this year.

Immotion Group provides immersive 'Out of Home' virtual reality (VR) experiences that are used in theme parks and shopping centres including Genting Resorts World in Birmingham.

The float raised £5.75 million gross proceeds through the placing of 57,500,000 shares. The funds will be used to grow Immotion Group's position in the 'Out of Home' VR experience market, which is forecast to grow seven-fold by 2022.

DWF's corporate team comprising of partner Jeremy Swift, senior associate Jemil Visram, solicitor Matthew Judge and trainee solicitor Kristian Fenwick led the deal with support from senior associate Stephen Cairns and solicitor Francesca Lilley in the employment team and solicitor Helen Walton in the real estate team.

Martin Higginson, CEO of Immotion Group Plc, said: "We would like to thank Jeremy and the DWF team for all their hard work on this listing. It was great to work once again with such a dedicated team. We believe that this IPO will enable us to build momentum and achieve our goal to build the business across the UK, Europe and USA in what is an exciting, fast growing market."

Jeremy Swift, DWF corporate partner, said: "We are delighted to have advised Immotion Group on their listing which will fund their next stage of growth in the global VR market. We were able to utilise both our corporate and employment practice skills, combined with our technology sector expertise, to meet our client's needs."

Last month DWF's corporate team acted for the sole global coordinator and nominated adviser to the £65 million IPO of leading technology provider Tekmar Group plc.

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