The Fabergé owner wants to list on the London Stock Exchange’s AIM index to access greater liquidity and international investors
17 January 2020 - 09:44
bykarl gernetzky
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Precious-stone producer Gemfields, the owner of Fabergé, said on Friday it wanted to return to the Alternative Investment Market (AIM) index in London to improve its access to international investors.
JSE-listed Gemfields, which had delisted from the AIM index in July 2017, said on Friday it was not intending to raise additional capital in conjunction with the readmission, which is expected to become effective on February 14.
“We are pleased to announce our decision to bring the Gemfields assets back to the London market, thereby providing UK, European and international investors with the opportunity of being part of the growing precious coloured gemstones market,” said CEO Sean Gilbertson in a statement.
Gemfield’s two main operating assets are MRM and the Kagem emerald mine in Zambia, in which it holds 75% of each.
In morning trade on Friday Gemfield’s share price was unchanged at R1.87, giving it a market capitalisation of R2.37bn.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Gemfields seeks AIM listing in London
The Fabergé owner wants to list on the London Stock Exchange’s AIM index to access greater liquidity and international investors
Precious-stone producer Gemfields, the owner of Fabergé, said on Friday it wanted to return to the Alternative Investment Market (AIM) index in London to improve its access to international investors.
JSE-listed Gemfields, which had delisted from the AIM index in July 2017, said on Friday it was not intending to raise additional capital in conjunction with the readmission, which is expected to become effective on February 14.
“We are pleased to announce our decision to bring the Gemfields assets back to the London market, thereby providing UK, European and international investors with the opportunity of being part of the growing precious coloured gemstones market,” said CEO Sean Gilbertson in a statement.
Gemfield’s two main operating assets are MRM and the Kagem emerald mine in Zambia, in which it holds 75% of each.
In morning trade on Friday Gemfield’s share price was unchanged at R1.87, giving it a market capitalisation of R2.37bn.
gernetzkyk@businesslive.co.za
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