The London Stock Exchange today welcomed Hochschild Mining plc to its Main Market.
Hochschild Mining is a leading precious metals company with a primary focus on the exploration, mining, processing and sale of silver and gold, with operations in Peru, Argentina and Mexico. As the world’s fourth largest primary silver producer, it has over forty years experience in the exploration, evaluation and extraction of precious metal epithermal vein deposits. The company has raised a total of approximately £270 million from the proceeds of the Global Offer and has a market capitalisation value of approximately £1.076bn.
To celebrate the occasion, the Exchange’s markets were opened by Mr. Eduardo Hochschild, Executive Chairman of Hochschild Mining, who was accompanied by Mrs. Clara Furse, Chief Executive of the London Stock Exchange.
Clara Furse said:
“We are pleased to welcome Hochschild Mining to the London Stock Exchange’s Main Market. Hochschild Mining’s listing underscores London’s position as the market of choice for companies from across the globe seeking to access international investment capital. We hope to see more Latin American companies join Hochschild on the London Stock Exchange.”
Eduardo Hochschild, Executive Chairman of Hochschild Mining plc said:
“We are delighted to join the prestigious London Stock Exchange, as this is an important milestone for the Group and will assist us in financing our Latin American growth strategy. We have a strong project pipeline and also plan to maximise the potential of our existing operations. We welcome our new shareholders and look forward to embarking on the next phase of our development as a publicly listed company.”
From January to the end of October 2006, the Exchange has attracted a total of 77 new international companies to its markets, raising a total of £9.8bn ($18.07bn). JPMorgan Cazenove Limited and Goldman Sachs International are Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners for the IPO. JPMorgan Cazenove is also acting as Financial Adviser to Hochschild Mining and Stabilising Manager. Canaccord Adams Limited is Co-Lead Manager and Nomura International plc is Co-Manager.
