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Kuits advises Bagir on AIM placing to raise funds

23 Sep 2016

Manchester commercial law firm Kuits has advised The Bagir Group on an AIM fundraiser to raise circa $8.5 million. The new funds will be used to restructure the Group’s finances, with the balance being used as working capital to support its business operations.

Bagir, which was first admitted to AIM in April 2014, was established in 1961 in Israel. The company develops and markets high quality men and women’s tailored fashion, distributing globally.

Eran Itzhak, CEO of Bagir, said: “Going forward, our balance sheet is strengthened considerably and this enables us to look to the future with confidence as we seek to grow the business.”

Kirsti Pinnell, corporate partner for Kuits, led the team advising Bagir on the company’s placing.

She commented: “The placing will enable Bagir to complete its debt restructuring and provide additional working capital for growth. We are delighted to have been able to use our extensive experience in capital market work to guide our client seamlessly through the UK legal aspects and practice of the placing.”

Kuits recently advised Kennedy Ventures and FASTNET Oil and Gas on an AIM placing and AIM reversal with placing, respectively.

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