Ferrexpo raises $100 mln in capital, resumes listing on LSE; half of amount contributed by Kernel owner Verevsky
Ferrexpo, a mining company with its main assets in Ukraine, announced the placement and subscription of new shares at a price of 16.5 pence per share, which is 42.3% lower than the last share price on the London Stock Exchange (LSE) on April 30 of this year.
Ferrexpo, a mining company based in Ukraine, has successfully raised $100 million in new shares priced at 16.5 pence each, marking a 42.3% decrease from the previous LSE share price on April 30. Ukrainian investor Andriy Verevsky contributed half of the funds, while Fevamotinico S.a.r.l., led by Kostiantyn Zhevago, the largest Ferrexpo shareholder, contributed the remaining 40%.
The resumption of trading on the London Stock Exchange allows the company to fulfill its commitment to transparency and accountability. The fundraising process, conducted through an accelerated bookbuilding method, requires shareholder approval by September 21, with the listing resuming on September 22. Despite current liquidity challenges, the Board believes the raised funds will suffice for the company's immediate and short-term operations, allowing reduced-level mining and processing activities in Ukraine while maintaining financial flexibility.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
