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Spain's Abenojar Tungsten makes London market debut in biggest mining IPO since 2018
Episode 99
Published 1 day ago
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Spanish miner Abenojar Tungsten made its official market debut on the LSE's main market on Friday, marking the largest mining flotation by funds raised in London since 2018.
Unconditional dealings in the shares, trading under the ticker "ABT," began on Friday, following conditional trading that started when the IPO was priced at 110p a share on Tuesday.
The shares opened marginally higher on Friday and were last up 5.9% at 108 pence as of 0827 GMT.
The company raised €170-million ($190.4-million) in the biggest mining IPO since Kazakh uranium producer Kazatomprom's £311-million ($417.11-million) listing of Global Depository Receipts in London in 2018.
With a market capitalisation of £522 million, Abenojar is on the verge of entering the FTSE 250 index, where the number of miners has risen to five.
Abenojar is developing the El Moto project in Abenójar, Spain, one of the largest and highest-grade undeveloped tungsten projects in the world.
BMO Capital Markets and Peel Hunt acted as joint sponsors and joint global coordinators, alongside Deutsche Bank, with Canaccord Genuity as a joint bookrunner.
Spanish miner Abenojar Tungsten made its official market debut on the LSE's main market on Friday, marking the largest mining flotation by funds raised in London since 2018.
Unconditional dealings in the shares, trading under the ticker "ABT," began on Friday, following conditional trading that started when the IPO was priced at 110p a share on Tuesday.
The shares opened marginally higher on Friday and were last up 5.9% at 108 pence as of 0827 GMT.
The company raised €170-million ($190.4-million) in the biggest mining IPO since Kazakh uranium producer Kazatomprom's £311-million ($417.11-million) listing of Global Depository Receipts in London in 2018.
With a market capitalisation of £522 million, Abenojar is on the verge of entering the FTSE 250 index, where the number of miners has risen to five.
Abenojar is developing the El Moto project in Abenójar, Spain, one of the largest and highest-grade undeveloped tungsten projects in the world.
BMO Capital Markets and Peel Hunt acted as joint sponsors and joint global coordinators, alongside Deutsche Bank, with Canaccord Genuity as a joint bookrunner.