Johannesburg-listed integrated resources company Tharisa intends to list on the Main Market of the London Stock Exchange.
The low-cost platinum group metals and chrome producer will apply for admission of 255 891 886 ordinary shares, valued at US$0.001 per share, to the standard listing segment of the Official List of the Financial Conduct Authority and to trade on the main market for listed securities of the London Stock Exchange.
“Our decision to list on the main market of the London Stock Exchange, one of Europe’s premier stock exchanges, represents an important milestone for the Company in raising our international profile and opening up access to a wider pool of investors and improving trading liquidity,” Tharisa CEO Phoevos Pouroulis, said in a SENS announcement.
The company said it does not intend to raise funds by issuing new shares in conjunction with the admission.
Tharisa expects admission to occur around June 8, 2016. A prospectus, in connection with the listing, was approved by the Cyprus Securities and Exchange Commission on June 2, 2016. The company, which operates the Tharisa Mine in the Bushveld Complex, is incorporated in Cyprus. It said it will publish its prospectus when securities are offered to the public or admitted to trading on a regulated market.
Tharisa’s primary listing will remain on the Johannesburg Stock Exchange, where its shares will continue to trade. Shares in the company or depository interests representing shares will be transferable between the Johannesburg and London bourses, it said.