First Quantum to list on LuSE

[bingogo]

Monday, June 13, 2011

By KATONGO CHISUPA

FIRST Quantum Minerals Limited (FQM) says it intends to list its Zambian depository receipts on the Lusaka Stock Exchange (LuSE) by the end of July.

Depository receipt is a negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities. The depository receipt trades on a local stock exchange. It makes it easier to buy shares in foreign companies because the shares of the company do not have to leave the home state.

“First Quantum Minerals Limited, a global mining and metals company, is proud to announce its intention to list its Zambian depository receipts on the Lusaka Stock Exchange by July 2011,” the company said in a statement availed to the Mail yesterday.

“The listing is in recognition that Zambians are important stakeholders of First Quantum and creates another way for Zambians to identify with and participate in the growth of the company,” the statement read.

The statement says the company’s depository receipts have since been registered under the Securities and Exchange Commission for possible listing on the local bourse.

First Quantum’s common shares are listed on the Toronto Stock Exchange and on the London Stock Exchange. With this move, First Quantum becomes the first mining company to list on the LuSE.

The company, which owns 80 percent of Kansanshi mine in Solwezi in the North-Western Province, says the depository receipts will be listed on the local bourse and can be purchased only through Zambian stockbrokers by institutional and retail investors in Zambia.

“The depository receipts have been registered by the Securities and Exchange Commission of Zambia, and are expected to be listed on the LuSE and traded freely, like any other security listed on that exchange,” the statement added.

It says each depository receipt will represent a certain fraction of a common share of the company which will be determined prior to the listing.

The statement says the common shares underlying the depository receipts rank paripassu (on equal footing) with all other common shares of the company.

Renaissance Capital is acting as sole sponsoring broker of the listing, while the Bank of New York Mellon will act as depository in relation to the receipts.

It says First Quantum will carry out investor road shows in Zambia to engage with targeted audiences in a build-up to the listing.

The company says any potential investors are advised to exercise caution in relation to the listing and are advised to consult with their stockbroker, financial or legal advisor or other professional advisor before investing in the depository receipts.

First Quantum Minerals Ltd is a growing mining and metals company currently operating two mines and developing five projects worldwide.

The company currently produces London Metal Exchange grade “A” copper cathode, copper in concentrate, gold and sulphuric acid and is on track to become a significant nickel producer in 2012.

First Quantum’s current operations are the flag carrier Kansanshi Copper-Gold mine in Zambia and the Guelb Moghrein Copper-Gold mine in Mauritania.

[indibleu]

Overseas depositary receipts (DR) are tradable securities issued by enterprises overseas. They are denominated in either U.S. dollars or local currencies and represent receipts for an enterprise’s common stock. The rights and obligations of DR holders are the same as those of stockholders possessing common stock. The main purpose of DR is to make it easy for companies to raise funds abroad, while also providing investors a convenient way to invest in the stock of companies in countries other than their own

[indibleu]

Je me trompe ou c'est une nouvelle formidable ?????

[plegoff3]

excellente nouvelle, merci Bingogo.

[bingogo]

vous pouvez avoir les détails de la mise en bourse ici

http://www.first-quantum.com/i/pdf/ZDoc ... reList.pdf

il me semble que les actions cotées seront des zdr qui coteront 5 % des titres actuels FQM

A vérifier mais le doc est long et je dois bosser :-)

j'ai aussi trouvé ds le doc cela :

In 2010, Mopani produced approximately 197,000 tonnes of finished copper and 1,100 tonnes of cobalt and had assets as
at December 31, 2010 in excess of $1.2 billion.

Bonne lecture

[bingogo]

je pense effectivement que c'est une excellente nouvelle

Comme par magie bcp de choses arrivent à qqes semaines des élections présidentielles

[bingogo]

et ici le lien pub de FQM

http://www.first-quantum.com/i/pdf/ZDoc ... ention.pdf

[bingogo]

le document de FQM...

Les actions cotées seront des ZDR, qui sont des fractions d'un titre classique

on aura peut etre des titres qui seront de 1 / 10 d'un titre FQM qui donnera alors droit à des dividendes de 1/10 d'un dividende classique..

EN faite tt sera respecté comme pour un titre classique mais en proportion de ce qu'il vaut par rapport à ce même titre classique

la valeur sera ainsi plus faible que 120 $ ce qi ferait quand même des titres à 564 000 kwacha lol

SI on cotait un titre FQM a ce niveau aucun zambien, ou plutôt peu de zambiens pourraient acheter sur le luse !

Pour le moment le document laisse cette valeur nulle car attendent sans doute d'avoir les pré demande


Je n'ai pas non plus trouvé le nombre de titres, ou plutôt la somme que représente cette mise en bourse ??

10 M $ ?

100 M$ ?

500 M $ ?

Cela est important et nous donnera une info sur ce qui pourrait se passer pour zccm-ih et son investissement à venir

[Le Niçois]

Cela est important et nous donnera une info sur ce qui pourrait se passer pour zccm-ih et son investissement à venir


Merci Bingogo,

J'ai 60 ans le 23 juin.

Et si ZCCM-ih me faisait comme cadeau une belle envolée comme en 2007, où telle une étoile filante, beaucoup l'on vu ..passer et n'ont pu ou pas voulu l'arrêter

[phili675]

FQM listing to attract more capital – Saasa
TIME PUBLISHED - Tuesday, June 14, 2011, 6:28 am
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Mulungushi University Vice-Chancellor Oliver Saasa (L)
THE planned listing of First Quantum Minerals Limited (FQM) on the local bourse will increase confidence in the economy thereby attracting ease finance in the expansion of the mining firm, economic consultant Oliver Saasa has said.
Professor Saasa said the move is a positive development that will bring about openness in the company’s dealings and finance money markets.
Prof. Saasa said this in an interview in Lusaka yesterday.
He said the listing will enable the company to explore venture capital and invest its capital in the economy.
FQM announced its intentions to list its Zambian depository receipts on the Lusaka Stock Exchange (LuSE) by the end of July.
Depositary receipt which trades on a local stock exchange is a negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities. It makes it easier to buy shares in foreign companies because the shares of the company do not have to leave the home state.
“What listing does is that there will be ease of financing by raising additional capital in the capital market. When you list, the company goes public and the public will be able to look at the financial transactions hence the quality will be thorough,” he said.
Prof. Saasaa urged other multi-national companies to consider list on the local bourse to reap the many opportunities.
First Quantum Minerals owns 80 percent of Kansanshi mine and has common shares dual-listed on the Toronto Stock Exchange and on the London Stock Exchange.
FQM becomes the first-ever mining company to consider local listing although Vedanta Resources, owners of Konkola Copper Mine (KCM), announced recently its intentions to list KCM shares on the London Stock Exchange and later float shares on the local bourse.
[Zambia Daily Mail]