Druces’ Capital Markets team has advised Essentially Group PLC (“Essentially”) on its subscription and admission to the AQSE Growth Market. Upon admission Essentially has become the first UAE based business to list on AQSE and has listed with a market capitalisation of £25,650,000.
Essentially operates in the health food industry and more specifically in the juice market, offering premium quality wellness shots, functional juices, lemonades, nut milks, single origin fruit juices and healthy protein snacks within the UAE and regional markets.
Essentially plans to invest in new machinery and production automation, increase its marketing efforts and directly access the Kingdom of Saudi Arabia market by establishing a manufacturing facility in Riyadh during in the course of 2023.
Druces’ Capital Markets team included Christopher Axford (Partner), Jack Dervyn (Partner), Mark Lamph (Associate) and Cheryl Michalik (Solicitor).
Raja W. Abuljebain, Chief Executive Officer of Essentially commented:
We are delighted here at Essentially to have completed our listing on the AQSE Growth Market. The work of Druces as our Legal Advisers was instrumental to the success of this process. Their professionalism, along with their in-depth understanding of the listing procedures and documentation, made them the perfect team for us. They were very easy to work with and were excellent communicators, as we jointly moved through the novel challenges of being the first UAE based business to list on AQSE.
We would like to thank the team at Druces for their excellent support and we look forward to working with them moving in the future.
Druces’ Head of Corporate, Christopher Axford commented:
We are delighted to have assisted Essentially Group PLC with its listing on AQSE, the first by a UAE based business. This continues Druces’ capital markets team’s history of supporting business throughout the globe achieve their desire to list on the London based stock exchanges. We look forward to working with Essentially as they continue to develop and grow their business.