Fieldfisher's leading equity capital markets practice advised finnCap in its capacity as nominated adviser and broker to Gemfields, whose return to AIM today is the first admission to AIM of a mining company since February 2019.European law firm Fieldfisher has advised finnCap, in its capacity as nominated adviser and broker, on Gemfields' admission to trading on London's AIM market, which became effective today.
Gemfields is the Africa-focused world-leading supplier of responsibly sourced, coloured gemstones and is also the owner of the iconic luxury Fabergé brand.
The admission marks a return to AIM for Gemfields after it de-listed from the London Stock Exchange in 2017, following its acquisition by Pallinghurst Resources.
Gemfields, which has not raised any capital in conjunction with its AIM admission, has a primary listing on the Johannesburg Stock Exchange and a secondary listing on the Bermuda Stock Exchange.
Gemfields' key producing assets are the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world).
The company's listing is the first admission to AIM of a mining company since Chaarat Gold Holdings was re-admitted in February 2019, following its acquisition of the Kapan mine in Armenia from Polymetal.
Commenting on Gemfields' successful AIM admission, Ed Westhead, corporate partner at Fieldfisher who led the team advising finnCap, said:
"We were delighted to have played our part in one of the first admissions to AIM this year and a rare listing of a mining company in what remains a challenging market for the mining and metals sector.
"We are cautiously optimistic that 2020 will see an improvement in the equity capital markets and we look forward to assisting other natural resources companies with their fundraising and other activities this year."
Fieldfisher is an enterprising European law firm built around people. We have market-leading practices in our four key sectors of energy and natural resources, technology, financial services and life sciences.
Our equity capital markets team had another successful year in 2019, advising 40 AIM-quoted companies and working extensively with NOMADs and brokers on a large number of transactions.
Perfect Information's ECMi Report for 2019 ranked us as the number one AIM legal adviser by volume of deals as well as fourth by value of transactions.
Our network spans over 1500 people across 25 international offices, all of which offer clients highly commercial, pragmatic advice.
We are based in Belgium, China, France, Germany, Italy, Luxembourg, the Netherlands, Ireland, Spain, the UK and the US.
Fieldfisher was named as a highly commended firm in the European FT Innovative Lawyers Awards 2019.