Linklaters brings new client Gem to LSE

Linklaters has scooped a mandate to advise on the successful London Stock Exchange listing of Gem Diamonds.

Corporate partner Stuart Bedford led the Linklaters team advising its new client on the listing, which included the £297m placing of new and existing shares.

UK firm Charles Russell advised JP Morgan Cazenove, the sponsor, broker, sole bookrunner and stabilisation manager.

Partner Alexander Keepin headed the team for Charles Russell as he did when JP Morgan Cazenove and Canaccord Adams instructed the firm on the US$158m (£90m) share placing for Aricom in April 2006.

JP Morgan Cazenove will have an over-allotment option, which may result in Gem Diamonds issuing a further £39m of new ordinary shares.

In August 2006, the 15th largest diamond ever reported – was recovered at Gem Diamonds’ Letšeng diamond mine in Lesotho, located in the Republic of South Africa. It was later sold for US$12.4m.