24th Jul 2018 09:34
LONDON (Alliance News) - Potash company Danakali Ltd on Tuesday started its first day of trading on the Main Market of the London Stock Exchange, following the admission of 264.2 million shares in total, raising no funds.
The company is now currently dual listed in London and Australia, and has a market capitalisation of AUD221.6 million, equivalent to GBP124.1 million.
Numis Securities Ltd is acting as financial adviser.
"We are delighted to deliver on another of our strategic goals for 2018. The LSE listing should increase our profile, liquidity and breadth of potential investors. It is a key milestone as we move towards construction and production at the Colluli Potash Project," said Executive Chairman Seamus Cornelius.
Shares in Danakali are currently trading at 46.50 pence, down 3.2% from its starting price of 48.00p.
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