London Mining calls on Travers for AIM IPO
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Travers Smith advised London Mining on its IPO on AIM as well as a £72m placing of existing shares.
Spencer Summerfield
The firm first advised on London Mining’s $810m (£488.13m) sale of its Brazilian operation to ArcelorMittal 15 months ago. It has since acted on several deals to return chunks of this capital to the iron ore and coal developer’s shareholders.
Travers corporate partner Spencer Summerfield led on the AIM flotation. The team also included senior corporate assistants Adrian West and Fiona Scattergood.
Osborne Clarke advised joint brokers Liberum Capital and GMP Securities Europe. The firm’s team was led by partner Alex Worner.
Summerfield said: “They’ve been very good clients. They’re ambitious and hopefully they’ll continue to use us.”
London Mining’s market capitalisation was £219m at the time of listing. Its iron ore assets in Sierra Leone, Saudi Arabia, Greenland and China currently total 0.4 million tonnes per annum (Mtpa) but the company plans to expand to 20Mtpa by 2018.
