Industry News by Nemesis

Lucapa Closes in on London Listing

July 22, 2017

Lucapa Diamond Company plans to obtain a stock-exchange listing in London by the end of the year as it aims to lure key investors for its mining operations.

Managers have visited London to make presentations to potential investors and outline development plans for its Lulo mine in Angola and Mothae mine in Lesotho, the company said Tuesday. The miner, which already lists its shares on Sydney’s Australian Securities Exchange (ASX), said it was encouraged by responses from UK institutional investors and funds. 

“The positive feedback from these road shows has prompted Lucapa to commit to plans for a dual listing on London’s AIM [Alternative Investment Market],” the company said.

As a result, Lucapa — which appointed brokerage firm Panmure Gordon last year to advise on the plans — expects its shares to be trading on AIM in the fourth quarter. 

“Lucapa believes that the AIM listing will help the company achieve its objective of attracting institutional and cornerstone investors to its share register,” the rough producer added.

 

Source: Rapaport

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