Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Litigation funder Vannin Capital has withdrawn its proposed listing in London, attributing the decision to volatile market conditions.

The company had planned to issue £70m of new shares on the London Stock Exchange as part of an initial public offering (IPO) this month.

Chief executive of Vannin Capital Richard Hextall said: “Management have concluded that the volatility experienced in the equity market in the last two weeks has led to conditions that are not conducive to an IPO, and that Vannin would be best served by postponing its proposed listing.”

He added: “ We are under no pressure to list the company in the near term and prefer to wait until market conditions are more suitable.”

Linklaters partner James Wooton has been advising the funder on its intentions to float, with Simmons & Simmons understood to be advising the underwriting banks.

Former Allen & Overy senior partner David Morley, who joined Vannin as chairman last month, previously told Legal Week that he believes litigation funding is on a “high-growth trajectory”, with Vannin “aiming at the top end of the market”.

Last month, Berwin Cave Leighton Paisner City international arbitration partner Ania Farren joined Vannin as a managing director.

According to Vannin’s statement of intent to float, since its launch in 2010, it has provided 70 funding commitments to clients, with an aggregate funding commitment value of £164m as of 30 June 2018. The company said it intends to expand into Singapore and Hong Kong, while it also aims to make additional hires in commercial arbitration and increase its overall headcount.

This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.


  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651

Andrew Messios


Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.