Tooru Advised by Orrick on AIM Listing and Subsidiary Acquisition
Deal News | May 09, 2025 | Orrick
Orrick is advising Riverfort Global Opportunities plc, soon to be renamed Tooru plc, in its proposed acquisition of certain operating subsidiaries from S-Ventures plc. This includes associated placing and re-listing on the London Stock Exchange AIM market. The deal takes the form of a reverse takeover under the AIM Rules, necessitating the creation of an admission document for the newly enlarged entity and circulars to inform shareholders of both companies. These documents have been published, and conditional approval is needed from RGO and SVEN shareholders. The enlarged entity is treated as a new applicant for trading on AIM, with an expected listing date by the end of May 2025.
Sectors
- Investment Banking
- Capital Markets
Geography
- United Kingdom – The transaction and the AIM re-listing are taking place on the London Stock Exchange, located in the United Kingdom.
Industry
- Investment Banking – The transaction involves advisory services by Orrick in structuring a reverse takeover and AIM listing, which falls under investment banking activities.
- Capital Markets – The re-listing on the AIM market of the London Stock Exchange directly relates to capital markets.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tooru plc | The Target company | Company | The newly renamed entity post-acquisition of certain operating subsidiaries of S-Ventures. |
| Riverfort Global Opportunities plc | The Selling Company | Company | The entity undergoing re-listing and a name change to Tooru plc. |
| S-Ventures plc | The Bidding Companybuyer | Company | The company whose operating subsidiaries are being acquired by Riverfort Global Opportunities plc. |
| Orrick | Legal Advisor | Company | Orrick is providing advisory services to Riverfort Global Opportunities plc in the acquisition and re-listing process. |