Slaughter and May is advising Synthomer Plc (“Synthomer”) on its rights issue

Slaughter and May is advising Synthomer Plc (“Synthomer”), a leading global producer of high-performance speciality chemical products, on its rights issue to raise gross proceeds of approximately £276 million, as announced on 7 September 2023.

The purpose of the rights issue is to support a reduction of group leverage and provide stronger foundations to focus on delivering Synthomer’s speciality solutions strategy.

The rights issue, which is supported by Synthomer’s major 26.9% shareholder, Kuala Lumpur Kepong Berhad Group, which has irrevocably committed to take up its full rights issue entitlement, is fully underwritten.

Slaughter and May is working closely with Synthomer’s in-house legal team led by Anant Prakash, Chief Counsel and Company Secretary.