Artemis (ASX:ARV) to list on London Stock Exchange; shares jump 3%

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Artemis (ASX:ARV) to list on London Stock Exchange; shares jump 3%

Artemis Resources Limited, ARV
Image source: © Mohammedsoliman4 | Megapixl.com

Highlights

  • Artemis on Thursday said it has received firm commitments from institutional investors to raise AU$9.5 million.
  • Artemis said it will place over 133 million shares at a price of 3.75 pence or AU$0.071.
  • Shares of the company rose 2.86% to end at AU$0.072 apiece on Thursday.

Artemis Resources Limited (ASX:ARV), a West Perth-based exploration company, on Thursday said it has received firm commitments from institutional investors to raise AU$9.5 million and will list on AIM, a sub-market of the London Stock Exchange.

Shares of the company rose 2.86% to end at AU$0.072 apiece on Thursday following this development.

Artemis said it will place over 133 million shares at a price of 3.75 pence or AU$0.071, representing zero discount to the stock's closing price on the ASX on 21 January.

The stock will start trading on the AIM on 7 February under the ticker AIM:ARV. 

Why is Artemis eyeing AIM/LSE listing?

The company said with a dual listing on AIM, the European and UK investors will get access to an appropriate platform to trade in Artemis stocks. Moreover, it will complement the primary ASX listing.

Artemis said that they are confident about their strategy of dual listing after having discussions with both existing and new shareholders.

How will the funds be used? 

Primarily, the proceeds will be directed towards developing the Greater Carlow and Paterson Central projects. The exploration is due to re-commence at the beginning of 2022.

In addition to this, Artemis said that further updates on drilling programmes at Greater Carlow and Paterson Central could be expected in a few weeks.

Alastair Clayton, executive director of Artemis, commenting on the development said:

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