International law firm Bryan Cave Leighton Paisner LLP (“BCLP”) has advised Pensana Rare Earths plc (“Pensana”) on its admission to the Official List of the FCA (Standard Segment) and to the Main Market for listed securities on the London Stock Exchange. The Company is not raising any funds in connection with the admission and will have 188,274,665 ordinary shares of £0.001 each in issue.
Pensana, which is also listed on the Australian Stock Exchange (“ASX”), focusses on Neodymium and Praseodymium, collectively known as NdPr. These rare earth metals are well-recognised for their long-term success in the heavyweight automotive and industrial power industries, with demand for NdPr expected to double by 2025. Pensana’s is focussed on developing the Longonjo project in Angola, an area with some of the largest deposits of high grade NdPr in the world.
Paul Atherley, Chairman of Pensana Rare Earths plc, commented: “Our listing in London provides UK investors with an opportunity to gain a direct exposure to the metals critical to the burgeoning EV and offshore wind sectors.”
The BCLP team was led by Mining & Minerals Co-Leader Alexander Keepin (Partner, M&A and Corporate Finance), assisted by Indi Heire (Associate, M&A and Corporate Finance).
This IPO follows shortly after BCLP advised Trident Royalties plc (“Trident”), a new growth focused mining royalty and streaming company, on its $20m placing and the admission of its ordinary shares to trading on the AIM Market of the London Stock Exchange in June 2020.
BCLP’s global Mining & Minerals team of over 60 lawyers worldwide can advise at any stage of a mine’s lifecycle – be this raising new equity to fund exploration and production, M&A transactions, project or asset finance, operating and commercial contracts, construction, and dispute resolution. Our team includes specialists across corporate finance, mergers and acquisitions, capital markets, project financing, asset finance, litigation, and dispute resolution. We have a deep understanding of the legal and practical challenges that the industry faces when operating in developed or emerging markets.