Collas Crill have acted for Ferro-Alloy Resources Limited in the admission of its entire issued share capital to trading on the standard listing segment of the Main Market of the London Stock Exchange.
Ferro-Alloy is a Guernsey domiciled vanadium mining and mineral processing company with operations based in Southern Kazakhstan, and is dual listed on the Kazakhstan Stock Exchange.
As part of the admission process, Ferro-Alloy successfully raised £5.2 million (before expenses) from institutional investors, implying a market capitalisation of £219.1 million on admission.
Nick Bridgen, CEO of Ferro-Alloy, commented:
"Today marks a significant milestone for Ferro-Alloy with the completion of our successful listing on the London Stock Exchange. We're excited to be entering the next phase as we look to advance Balasausqandiq; this unique project has the potential to be one of the world's largest and lowest cost producing mines… With incomparable economics in tandem with a world-class team of scientists and technicians, we aim to be at the forefront of this market."
Senior associate Simon Heggs, alongside group partner Wayne Atkinson, lead the Collas Crill team acting for Ferro-Alloy added:
"We are delighted to have been able to assist Ferro-Alloy in such a significant step in the future of their business.
Ferro-Alloy is a great advertisement for the benefits of Guernsey as a jurisdiction for listing international businesses on LSE. Ferro-Alloy previously relocated to Guernsey from the BVI, specifically to obtain the benefit of the Takeover Code and to allow them to list their shares, rather than depository receipts.
As a publicly listed Guernsey company, Ferro-Alloy is also able to take full advantage of the exemptions under the Prospectus Regulation for any future fundraising, without interference from local prospectus rule restrictions.
This is why Guernsey continues to lead all jurisdictions outside of the UK in terms of the number of companies listed on LSE."
Further information on the benefits of using a Guernsey company to list on LSE can be found here.
If you'd like to discuss this in more detail, then please feel free to contact a member of Collas Crill's Capital Markets team.