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Field Fisher Waterhouse LLP has advised Avocet Mining PLC, the gold mining and exploration business, on the admission of its ordinary shares to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities, which became effective on 8 December 2011. The company was admitted with a market capitalisation in excess of £400 million and expects to be included in the FTSE UK 350 Index in spring 2012. The company was originally admitted to the Official List in 1996 and returns to the Main Market after trading for a number of years on AIM.
Corporate partners Andrew Blankfield and George Cotter led on the deal, assisted by associates Rashed Hasan and Aleksandra Cison. As well as acting on the listing, the firm has recently advised Avocet on the $200m disposal of its South East Asian assets, which completed earlier this year.
The transaction rounds off a successful year for Fieldfisher's equity capital markets team, other highlights of which include acting for Trap Oil Group plc on one of the largest AIM IPO fundraisings of 2011.
Andrew Blankfield said: “Avocet Mining is a long-standing and valued client of the firm. Having advised on the company's original admission to the Official List in 1996, we are delighted to have done this for a second time. Avocet's return to the Official List is an endorsement of the company's recent successes."
Mike Norris, Finance Director of Avocet Mining, commented: “I thank Fieldfisher for its dedicated support and advice over the last few months - its contribution was a significant factor in the success of our move up to the main market.”
Avocet's sponsor and broker, J.P. Morgan Cazenove, was advised by an Ashurst team led by Nick Williamson.
For further information, please contact:
Louise Eckersley, PR Manager, Field Fisher Waterhouse LLP on 020 7861 4120