Caracal Gold Plc plans for a Ksh 2 billion dual listing on London Stock Exchange Plc and on Nairobi Securities Exchange (NSE).
It has appointed Faida Investment Bank Limited (‘Faida’), as its financial adviser and joint broker, in relation to the proposed listing.
Caracal Gold Plc, CEO Charles Tatnall, Papillon CEO says the proposed listing at the Nairobi bourse was set out in the prospectus published on 20 July 2021.
“It is very pleasing to have now appointed Faida Investment Bank Limited as our financial adviser and joint broker to complete this listing in September, as well as the appointment of VSA Capital as our advisor and joint corporate broker,” said Tatnall.
If successful, the listing will make the gold mining company the first gold and related minerals mining company to be listed on the NSE. Further, it will be the second company to have a dual listing at both exchanges.
The Capital Markets Authority (CMA) and the NSE are expected to approve the listing of Caracal Gold with its shares to commence trading on the NSE in September 2021.
On Readmission, the Company’s corporate strategy will focus on solidifying its position as an emerging East African focused gold producer, targeting increases to gold production and resources at the producing Kilimapesa Gold Mining and Processing Operations in Narok County, Kenya and acquiring other complementary and strategically located gold mine and development projects.
The Company’s initial focus is on the Kilimapesa Gold Mine where there is the potential to increase gold production to 25,000oz p.a. and the resource to +2Moz.
Geoffrey Odundo, CEO of the NSE, said the listing of Caracal Gold Plc on the Growth Enterprise Market Segment (GEMS) offers the mining firm access to world-class infrastructure and access to both international and local investors.
Caracal Gold plc’s ordinary shares have been readmitted to the standard listing segment of the Official List of the FCA and trade on the Main Market for listed securities of the London Stock Exchange Plc.