HUI specialises in turning non-recyclable mixed waste plastic into low-carbon fuels, with a strong focus on hydrogen and synthetic gas. Its corporate headquarters are in London, with subsidiaries on the European continent and an ambition to expand and deliver projects globally in future.
Alfred Henry assisted Hydrogen Utopia International PLC with its IPO on the Aquis Stock Exchange, a key London stock market for growth companies, in January 2022. Alfred Henry advised HUI on the structure of the flotation, the timing, analysed HUI’s valuation expectations and gave guidance on the regulatory requirements for a listing on the Aquis Stock Exchange. Alfred Henry, as independent corporate advisor, introduced HUI to lawyers, accountants, brokers and registrars to form the execution team for the listing. Alfred Henry coordinated with the advisors, as required, for the project management and completion of all the necessary documentation including the Admission Document. Throughout the process, Alfred Henry liaised with the regulatory team at the Aquis Stock Exchange and coordinated responses to any questions they raised. HUI successfully raised gross proceeds of £3,000,000 in connection with its IPO.
Alfred Henry has guided HUI in relation to its continuing obligations as a listed company throughout its time on the AQSE Stock Exchange. This included making announcements to the market on matters such as final and interim results, director appointments, a convertible loan issue, proposed joint ventures, LOIs and MOUs on HUI’s behalf.
HUI decided in the autumn of 2022 to list on the LSE to secure a broader investor following. Alfred Henry acted as financial advisor to the company in its dealings with the FCA and the London Stock Exchange. HUI’s Prospectus was approved by the FCA and HUI was admitted to the LSE on 9 January 2023. HUI’s LSE main market debut was achieved in record time namely approximately 3 months. This was only 12 months after its Aquis Stock Exchange listing.
Alfred Henry has supported HUI throughout its journey. Moving up to the LSE main market was an important milestone for the company, offering increased liquidity and potentially appealing to a wider range of investors. HUI’s shares are also trading on the OTCQB (USA), the Frankfurt Stock Exchange and the Stuttgart Stock Exchange to facilitate trading by US and European investors respectively.
HUI is a great advertisement for the AQSE growth market. It shows that AQSE can be the first step to an LSE listing.