The move by Gemfields Group Limited to list its shares on the AIM market of the London Stock Exchange demonstrates the company’s ethos of transparency, legitimacy and integrity.
Gemfields owns the Kagem emerald mine in Lufwanyama in partnership with the Zambian government.
The listing enables a wider reach of international investors to take a direct stake in Gemfields, which owns 75% of the Kagem emerald concession in Lufwanyama, with 25% owned by the government through the Industrial Development Corporation (IDC).
Gemfields CEO Sean Gilbertson lauded the move and said it’s a milestone achievement.
“The admission to the London market is an important milestone for Gemfields after a decade of growth in the demand and prices for precious coloured gemstones. The AIM listing seeks to provide the UK, European and international investors with more expedient entry into the precious coloured gemstone market, to improve share trading liquidity and to widen Gemfields’ current investor base. Our team looks forward immensely to this next phase in Gemfields’ development and to delivering value for all our stakeholders,” he said.
Gemfields has maintained its primary listing on the Johannesburg Stock Exchange (JSE).