Mourant Ozannes advises East African mining company on LSE main market listing
Mourant Ozannes' Guernsey corporate team has advised on the successful admission to trading by way of placing of Rainbow Rare Earths Limited (Rainbow Rare Earths), an East African mining company, on the Main Market of the London Stock Exchange.
Rainbow Rare Earths, incorporated and registered in Guernsey and administered by Artemis Trustees Limited, is a mining company engaged in the exploration and development of the Gakara Project, a rare earth deposit in Burundi, East Africa.
On Admission Rainbow Rare Earths has a market capitalisation of approximately £15.2 million. The funds raised will capitalise the Gakara Project through trial mining and into production in 2017.
Mourant Ozannes Partner Helen Wyatt led the team advising on the Guernsey aspects of the placing, assisted by corporate Senior Associate Dylan Latimer. Memery Crystal acted as UK counsel.
Commenting on the transaction, Helen said: "We are very pleased to have been able to assist Rainbow Rare Earths with this successful placing which was oversubscribed. The transaction involved complex structuring issues and a demanding timeframe."
Mourant Ozannes' corporate team is a leading practice known for acting on the most complex and demanding transactions, with a particularly strong reputation for corporate finance, mergers and acquisitions and private equity.
The Rainbow Rare Earths launch onto the LSE follows closely on the heels of the successful admission of NewRiver Retail Limited onto the main market segment of the LSE in August 2016.