JSE- and Botswana-listed Gemfields on Friday also started trading on the Aim market of the LSE.
At the time of admission, the company’s total issued share capital consisted of 1.2-billion ordinary shares, of which 96-million were held by the company itself.
“Today’s admission to the London market is an important milestone for Gemfields after a decade of growth in the demand and prices for precious coloured gemstones.
“The Aim listing seeks to provide UK, European and international investors with more expedient entry into the precious coloured gemstone market, to improve share trading liquidity and to widen Gemfields’ current investor base,” said CEO Sean Gilbertson.
European law firm Fieldfisher, which was part of the advisory team in the trading process, said the admission marked a return for Gemfields to Aim after it delisted from the LSE in 2017, following its acquisition by Pallinghurst Resources.
“We were delighted to have played our part in one of the first admissions to Aim this year and a rare listing of a mining company in what remains a challenging market for the mining and metals sector,” the firm said.
Gemfields operates emerald and beryl producing mines in Zambia and a ruby mine in Mozambique, while also holding interests in exploration licences in Zambia, Mozambique, Ethiopia and Madagascar.