29 October 2007
The London Stock Exchange is pleased to welcome Aricom, the Anglo-Russian developer of mineral resources, to the Main Market following four highly successful years on AIM.
Aricom is a leading developer of Russian metal and mining assets, focussing on iron ore and ilmenite production is based in the Amur region of Russia on the Chinese border. It has achieved phenomenal milestones since its inception in 2003, when it de-merged from Peter Hambro Mining. The Company has grown from a £30 million business in 2003 to £800 million today. It has concluded two fundraisings, netting $712m in total and increased its reserves and resources from 385 million to 4.4billion.
Commenting on the Aricom listing, Jay Hambro, CEO of Aricom, said today: “Our move to the Main Market is a significant event for Aricom as we continue to grow and move into production. We look forward to gaining the benefits from life on the Main Market with the broader investor universe it brings. On behalf of the board, I would like to thank all those involved at the Company and our advisors for their hard work and for making this move a possible.