06/11/2009 The London Stock Exchange welcomes Centamin Egypt to the Main Market
The London Stock Exchange congratulates Centamin Egypt Limited on the move from AIM to the Main Market, and the move of its Primary Listing from Australia to London.
Centamin is a mineral exploration and development company that has been actively exploring in Egypt since 1995. It has over 13 million ounces of proven gold resources at its Sukari Gold Project, which makes it one of the largest single deposits outside of the majors. The first gold pour from Sukari took place in June 2009, representing Egypt’s first modern day gold production.
The Company joined AIM in 2001 and has raised approximately £200 million through a number of share placings to fund its exploration and development activities at Sukari. Centamin’s market capitalisation is c. £1,400 million and it is expected to join the FTSE 250 shortly after its move to the Main Market.
Commenting on the Admission, Josef El-Raghy, Chief Executive Officer and Managing Director of Centamin, said:
"The investment community in London has been a crucial supporter of Centamin's success so far. The move from AIM to the Main Market of the London Stock Exchange reflects the promotion from being an exploration and development company into one of the top producers in the gold industry. We look forward to bringing the Sukari Gold Project into full production over the coming weeks and generating further growth for our shareholders.”
Advisors to Centamin in connection with the Admission are Ambrian Partners (Financial Adviser and Broker), Investec Investment Banking (Sponsor) and Buchanan Communications (Financial PR).