19th Oct 2026 10:44
(Alliance News) - Abenojar Tungsten PLC on Monday announced the price range of its planned initial public offering, with its debut expected next week.
The developer of the El Moto tungsten project in Spain said it was sizing up a market capitalisation of up to GBP628 million.
It has priced its initial public offering, first announced on October 7, between 110 pence and 140p, which would imply a market value between GBP525 million and GBP628 million.
The issuing of between 103.8 million and 132.1 million new shares is due to raise roughly GBP145 million.
Abenojar said it expects to be eligible for inclusion in the FTSE UK Index Series. Even at the lower end of its market capitalisation range, it would be a candidate to enter the FTSE 250.
Following admission, 25% of its shares are predicted to be in public hands, Abenojar said.
Abenojar said it expects conditional dealings of its shares to begin on October 27, with unconditional dealings three days later.
On October 7, Chair Roger Davey said the decision to go public was "the natural next step", and it would "enhance the company's visibility as well as provide access to an international investor base."
By Niall Holden, Alliance News reporter
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