London Stock Exchange welcomes Oracle Coalfields, first Pakistan-focussed company to join AIM

  • Raises £3 million on admission, in a transfer of its quotation from PLUS to AIM
  • Company has major mining operations in Pakistan
  • Developing Block VI in Pakistan's Thar Coal Field with an estimated 1.4 billion tonne coal resource

The London Stock Exchange today welcomes Oracle Coalfields plc to its AIM market. The Company has raised an additional £3 million and is being admitted to AIM with a market capitalistaion of approximately £25 million, having transferred from PLUS Markets. Incorporated in the UK, Oracle will be the first company with a major coal mining project in Pakistan to join AIM.  The Company de-listed from PLUS at the close of business on 19 April 2011.

Oracle Coalfields is an independent coal developer of an estimated 1.4 billion tonne coal resource in the south-eastern desert of Pakistan's Sindh Province.  The Company owns 80% of Sindh Carbon Energy Limited which has been granted a licence in the Thar coal field for coal extraction and development.

Ibukun Adebayo, Head of Primary Markets, South Asia, Africa, and Middle East at London Stock Exchange Group, said:

"We are delighted to welcome Oracle Coalfields to AIM, where it joins a wide peer group of South Asian energy companies and gains access to London's leading pool of international investment capital.  Oracle Coalfields' admission highlights the vital role that the London Stock Exchange can play in financing Pakistan's energy requirements and infrastructure development.  We look forward to welcoming more Pakistan-focussed companies to our equity markets in the future."

Shahrukh Khan, CEO of Oracle Coalfields, said:

"Oracle Coalfields is at a key stage in its development and we believe AIM can provide the best platform to support the company through its next phase of growth. It will provide additional liquidity, a high profile and access to a large pool of institutional and international investors.

"We are delighted that the strong support of new and existing shareholders has led to us to being significantly oversubscribed. The funds we have raised will be used to complete our planned work programme for the Bankable Feasibility Study and work towards mine development. "

Oracle Coalfields joins four other Pakistani companies listed on London Stock Exchange markets, Lucky Cement, MCB Bank, and United Bank, who are listed on the Professional Securities Market and Oil and Gas Development which is listed on the Main Market. 

Libertas Capital Corporate Finance Ltd is the Nominated Adviser and Broker for Oracle Coalfields.  
 

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For further information, please contact:

Lauren Crawley-Moore                           Press Office +44 (0)20 7797 1222

                                                           newsroom@londonstockexchange.com

Notes to editors:

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 1,500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.

About AIM:

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.