Vannin Capital, a third-party funder, announced that it is going public on the London Stock Exchange (LSE) next month. See the official announcement by the LSE, HERE.
The decision to float comes almost ten years after Vannin’s rival, Burford Capital, decided to make the leap in 2009. It is projected that becoming a publically-traded company will raise the value of the company to somewhere between $655M and $1.3B. This comes as no surprise when looking at the increase in the frequency of third-party funding in just the past six years. (For more information read about the rise of third-party funding read our recent blog post HERE.) Even though there is a trend to fund a “portfolio” of similar cases, the Financial Times reported that Vannin intends to stick with funding single cases for the time being. Vannin’s decision coincides with its efforts to expand its reach into two key jurisdictions — Singapore and Hong Kong — which both passed legislation this year allowing third-party funding. For further information on Vannin’s decision to enter these two markets, read Vannin’s newsletter, HERE.