Ogier London acted as British Virgin Islands (BVI) advisor to Zanaga Iron Ore Company (LON:ZIOC) on its successful admission to the AIM market of the London Stock Exchange. 

Zanaga listed with a market capitalisation just under half a billion pounds. There was an increased level of interest from the investment community, with 39.8 million shares being placed at 156p each, generating £62.1 million.

Zanaga, already a world class mineral resource, is unlike other listed companies having one of the world’s largest mining groups in-tow and has already established an exit strategy.

The Ogier team lead by Simon Dinning (Managing Partner, London) and Wendy Walker (Senior Associate) assisted on the BVI elements of this listing and will continue to be an adviser to this listed entity going forward.

Commenting on the transaction, Simon Dinning said:

"We are delighted to have advised on what is one of the most significant IPOs to come to the AIM market so far this year. The positive response from the investment community on Zanaga’s admission is significant and pleasing for all those involved in the London IPO market and shows signs of a return in market confidence. At Ogier we have a number of lawyers who have specialised in IPOs whilst practising onshore and it is this experience, coupled with offshore expertise, that enables us to provide technically accurate, timely and proactive advice within the context of such a transaction.”

The company intends to expand and develop the resource base further and intends to develop a mine that can produce two high quality products - a 65 percent iron sinter and a 67 percent iron concentrate.