Caracal Gold Plc, a gold mining company, based in the UK, has appointed Faida Investment Bank as its financial adviser and joint broker as it plans to do a KSh 2 Billion listing at the Nairobi Securities Exchange (NSE). Caracal Gold Plc listing at the Nairobi Bourse will make it only the second Company to have a dual listing at both the NSE and London Stock Exchange.
This proposal comes after President Uhuru Kenyatta’s three-day visit to the UK.
The Economic Partnership Agreement (EPA) that was ratified between the two countries in May 2021 to boost trade between the two countries worth KSh 200 billion a year indicates the importance of the NSE listing to Caracal Gold.
The Capital Markets Authority (CMA) and the NSE are expected to approve the listing of Caracal Gold with its shares to commence trading on the NSE in September 2021. Caracal Gold Plc strategic plan
Caracal Gold Plc’s business plan and corporate strategy in East Africa will target increasing Gold production at Kilimapesa Gold Mining and Processing Operations in Kenya and acquiring other complementary and strategically located gold mine and development projects.
Caracal Gold Plc will be the first gold miner to be listed at the Nairobi bourse, providing an ideal opportunity for investors to participate in Kenya’s nascent mining sector.
The UK mining firm intends to use its enhanced international image to link up with UK, Kenyan and other European based funds, institutions and investors.
Faida will team up with UK based VSA Capital Limited- also appointed as a corporate broker and financial adviser to Caracal Gold Plc.
Faida and VSA will advise the mining firm with listing at the NSE’s Growth Enterprise Market Segment (GEMS) via introduction.
Geoffrey Odundo, CEO of the NSE, said the listing of Caracal Gold Plc on the GEMS segment offers the mining firm access to world-class infrastructure and access to both international and local investors.
According to Andrew Kamau, Kenya’s Principal Secretary Ministry of Petroleum and Mines, Kenya’s mining sector has vast investment opportunities.“We hope listing of Caracal Gold Plc will demonstrate to the international investment community the attractiveness of Kenya’s sector,” said Kamau.According to the Gold Mining Company’s CEO Charles Tatnall, Papillon CEO, the proposed listed at the Nairobi bourse was set out in the prospectus published on 20 July 2021.“It is very pleasing to have now appointed Faida Investment Bank Limited as our financial adviser and joint broker to now complete this listing […]