08/11/06 The London Stock Exchange is delighted to welcome Hochschild Mining plc to the Main Market.
08 November 2006
The London Stock Exchange is delighted to welcome Hochschild Mining plc to the Main Market.
Hochschild Mining plc is a leading precious metals company with a primary focus on the exploration, mining, processing and sale of silver and gold. As the fourth largest primary silver producer, it has over forty years experience in the exploration, evaluation and extraction of precious metal epithermal vein deposits. Currently, it has three underground mines supported by fully developed infrastructure, consisting of the Arcata, Ares and Selene operations in Southern Peru. Hochschild also has two advanced stage development projects, one in Argentina and one in Peru and two early stage development projects, both of which are in Mexico. In addition to its development projects, it has over twenty long-term prospects throughout Latin America that are at various stages of development. The company headquarters are in Lima, Peru.
Hochschild Mining’s strategy is to achieve growth as a low cost, cash generative, precious metals producer in Latin America, continuing its primary focus on silver and gold production, and to enhance overall value for its shareholders, whilst maintaining a strong focus on operational excellence and on its social and environmental responsibilities.
Eduardo Hochschild, Executive Chairman of Hochschild Mining plc, said:
“We are delighted to join the prestigious London Stock Exchange as this is an important milestone for the Group and will assist us in financing our Latin American growth strategy. We have a strong project pipeline and also plan to maximize the potential of our existing operations. We welcome our new shareholders and look forward to embarking on the next phase of our development as a publicly listed company.”
JPMorgan Cazenove Limited and Goldman Sachs International are Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners for the IPO. JPMorgan Cazenove is also acting as Financial Adviser to Hochschild Mining and Stabilising Manager. Canaccord Adams Limited is Co-Lead Manager and Nomura International plc is Co-Manager.
Why the London Stock Exchange?
Today Hochschild Mining joins its global mining peers on the London Stock Exchange, listing alongside big names like BHP Billiton, Rio Tinto and Anglo American. The London market has assumed a position of pre-eminence as the home to large, global, blue chip mining stocks, giving issuers access to capital from around the world and exposure to investors and analysts who have a good understanding of the metals and mining markets. From January to the end of October 2006, the Exchange has attracted a total of 77 new international companies to its markets, raising a total of £9.8bn ($18.07bn). Furthermore, it has a reputation for requiring high standards of corporate governance. In recent years, foreign names such as Kazakhmys and Vedanta Resources have listed on the LSE, both of which have ultimately achieved FTSE 100 status. Hochschild’s collection of assets will allow investors to retain exposure to the sector and the strong precious metals markets, while offering them the opportunity to gain exposure to Latin America with an exciting growth story from a stable platform.
From January to the end of October 2006, the Exchange has attracted a total of 77 new international companies to its markets, raising a total of £9.8bn ($18.07bn).