Abenójar Tungsten, a company promoting the development of the El Moto Mine in Ciudad Real to extract tungsten and gold starting in 2029, has launched its listing on the London Stock Exchange to finance its 211-million-euro project by announcing to the market its ‘intention’ to execute an offering of part of its shares on that exchange to begin trading in the coming weeks.
The banks Peel Hunt, BMO, Deutsche Bank, and Canaccord will handle the placement, which could amount to several tens of millions of euros and through which Abenójar aims to enter the main market of the London Stock Exchange.
The funds will be used to finance the construction of the mine (estimated investment of 211 million) and to pay part of the agreed price upon acquiring the operation. Alongside the capital that may be raised in the offering, Deutsche Bank will provide bank financing of up to 120 million euros.
