Charles Russell steers market switch for Aricom

Charles Russell has capitalised on its blossoming relationship with JPMorgan Cazenove to land a lead role on an Anglo-Russian mining company’s move from AIM to the main list.

The top 50 firm advised JPMorgan Cazenove and Canaccord Adams as the joint brokers and sponsors to Aricom, which has titanium and iron ore assets in Russia. On admittance to the London Stock Exchange (LSE), Aricom had a market capitalisation of £829m.

Leading the team for Charles Russell was capital markets partner Alexander Keepin.

This is the second LSE listing on which Charles Russell has advised JPMorgan Cazenove this year. In February, the firm advised the bank on the £336m placing of Gem Diamonds. Keepin also led on that deal.

Advising the company was Norton Rose, Aricom’s longstanding adviser. Corporate partner Simon Cox led the team. Cox also led for Norton Rose in June, when the firm advised Aricom on its placing of 133 million units on AIM, raising £279.3m in total.

Charles Russell also advised the same banks on that placing, which lent “a continuity of the advisory groups” to this deal, according to Cox.

In December 2003, Norton Rose advised Aricom on its admittance to AIM. The firm had previously advised legacy company Peter Hambro Mining on its fundraising and demerger of titanium interests to new company Aricom.

Charles Russell also had a key role on that deal, advising Canaccord as Aricom’s nominated adviser on its AIM debut.