London Stock Exchange welcomes Lonrho to Main Market
- AIM-quoted African investment business takes Premium Listing
The London Stock Exchange today welcomes Lonrho plc ("Lonrho") to its Main Market. The company, which moves from the Exchange's growth market, AIM, has operations in seventeen African countries, building and investing in transportation, infrastructure, hotel and agribusiness firms across the continent. The firm's market capitalisation has grown from £20.9m upon its admission to AIM in 2001, to £209.6m today.
Ibukun Adebayo, Head of Primary Markets for Africa, South Asia and the Middle East at London Stock Exchange Group, said:
"Lonrho is a great AIM success story. It highlights how strong issuers from a range of sectors and geographies can use our growth market to gain exposure to London's broad international investor base and the extensive expertise of its financial community.
"Infrastructure development in Africa is an increasingly important sector, and we are delighted that companies in this field continue to take advantage of the full breadth of London's equity markets to operate and grow."
David Lenigas, Executive Chairman of Lonrho, said:
"The move back to the Main Market represents a significant vote of confidence in the Company's strategy and vision. We will continue to seek out growth opportunities around sub-Saharan Africa that fit with the proven strategy Lonrho has adopted to date."
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Notes to editors:
As part of the international diversified exchange business, AIM is the London Stock Exchange's unique market for growing companies. Since its launch in 1995, AIM has successfully helped 3,100 companies raise in excess of £66 billion. AIM's regulatory structure, tailored to the needs of Small and Medium Sized Enterprises (SMEs), allows companies to quickly and cost effectively raise capital both at admission and via further fundraisings. As well as being geographically diverse, being home to companies with operations in 92 countries, AIM supports the financing needs of companies from over 40 different sectors.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world's financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe's capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com