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PLUS Markets Group plc (“PLUS Markets”) is pleased to announce that Caspian Minerals plc, an investment company focused on the acquisition of mining and oil production processing facilities and resources, has today become the first company to issue Global Depositary Receipts (GDRs) on the PLUS market.
The GDRs were introduced to the market by Axiom Capital, through the Bank of New York Mellon - the world’s leading depository bank. Axiom, the PLUS Corporate Adviser to the issue, has a strong international presence across Europe and the Balkans.
With 100,000 depositary receipts, each representing 10 ordinary shares at a price of US$10.00 per GDR, the issue is valued at US$1million. Full details of the issue can be found in the company’s admission document on the PLUS web-site.
David Sinclair, Chief Executive of Axiom Capital, said: “We have worked with PLUS on a number of new company admissions and are pleased to have initiated bringing the very first GDR to the PLUS market. The approach of PLUS has been supportive throughout and Axiom, with its new expertise, is looking forward to assisting more companies to access capital and raise their profile in the UK as this route into London gathers pace”.
Anthony Moro, Head of Emerging Markets, Depositary Receipts at The Bank of New York Mellon said: “The Bank of New York Mellon in its continual drive to innovate in the global capital markets is pleased to establish the first GDR to be quoted on PLUS Markets. We are delighted to add Caspian Minerals to our extensive client base comprising over 1,300 DRs from 70 countries.”
Paul Haddock, Head of Capital Markets at PLUS, said: “We welcome Caspian’s GDRs onto the PLUS market and we are delighted to be working with the Bank of New York Mellon and Axiom on the issue. This marks a significant step forward for our market and demonstrates our willingness to facilitate access to the capital markets for different kinds of issuers and security types.”
