Press releases 2008
14 May 2008
International IPOs on Main Market and Professional Securities Market (PSM) raise over $5 billion in under four weeks
The London Stock Exchange today welcomed its sixth and seventh international companies to the Main Market and PSM in less than four weeks:
· Fresnillo operates silver mines in Mexico, and has raised $1. 8 billion through its primary listing on the Exchange’s Main Market.
· Lucky Cement from Pakistan has raised $109 million through an issue of GDRs on the Professional Securities Market.
Between them, the seven new international listings on the Main Market and Professional Securities Market in the last month have raised over $5 billion.
Tracey Pierce, Head of Equity Primary Markets at the London Stock Exchange, said:
“We have admitted seven major international companies in the space of just three weeks, an excellent indicator of the health of our international pipeline. We are particularly pleased to have attracted our first ever IPO from Mexico. Having only recently started to market the Exchange in Latin America, Fresnillo is a good example of the increasing number of companies from the region seeking global capital to fund their international growth.
“We have also been more active in the Middle East, having recently admitted companies from Egypt and the United Arab Emirates, and see strong potential for the Exchange to complement the local markets in Central and Eastern Europe where companies like New World Resources already benefit from good support from domestic investors.
“By choosing to take primary listings, both Fresnillo and New World Resources have committed themselves to the most exacting regulatory standards in Europe, and to providing investors with clear information about their corporate governance practices. The ability to choose this route gives companies access to London’s deepest pool of capital, while investors benefit from a wider range of international opportunities backed by the UK’s high standards.”
Reflecting strong interest in resources companies, Fresnillo and New World Resources raised over $3 billion between them. They join 345 other companies from the mining and oil and gas sectors on the Exchange’s markets, with a combined market capitalisation of over £1 trillion.
New Main Market and PSM admissions since 22 April:
· 22 April – Russian supermarket chain Magnit became the 100th company from Russia and the CIS on the Exchange’s markets, issuing Main Market GDRs.
· 23 April – Depa, a construction company from the United Arab Emirates raised $103 million through a GDR issue on the Main Market.
· 8 May – Russian rail freight operator Global Trans issued GDRs on the Main Market, raising $500 million.
· 9 May – New World Resources raised $2.15 billion through a listing on the London, Prague and Warsaw Stock Exchanges.
· 9 May – Egyptian real estate company Palm Hills raised $202 million through a Main Market GDR issue.
· 14 May – silver miner Fresnillo became the first Mexican company on the London Stock Exchange, raised a total of $1. 8 billion, including $900 million worth of new money.
· 14 May – Lucky Cement, from Pakistan, raised $109 million through a GDR issue on the Professional Securities Market.
For further information, please contact:
Catherine Mattison Press Office + 44 (0)20 7797 1222
Notes to editors
- Money raised figures for flotations during April are final. Money raised figures for May new issues are indicative, and are sourced from company RNSs.