Egypt's Naguib Sawiris-backed gold mining firm debuts on London Stock Exchange

Naguib Sawiris' La Mancha has 9% stake in the West African producer

  
Egyptian billionaire Naguib Sawiris answers journalists' questions during the "Rome 2015 MED, Mediterranean dialogues" forum in Rome, Italy, December 10, 2015.

Egyptian billionaire Naguib Sawiris answers journalists' questions during the "Rome 2015 MED, Mediterranean dialogues" forum in Rome, Italy, December 10, 2015.

REUTERS/Remo Casilli

London-based Endeavour Mining, one of West Africa’s largest gold producers, began trading on the London Stock Exchange on Monday. 

The company, which is already listed on the Toronto Stock Exchange, said the entire issued ordinary share capital of 250,491,755 shares was admitted to the LSE's premium listing segment. Its stock, with the ticker symbol EDV, is currently trading at 1,705 GBX.

Endeavour’s top institutional investors include La Mancha Holding, which owns 19.1 per cent, Van Eck Associates and BlackRock Investment Management. The Canadian miner, Barrick Gold Corporation, also holds a 3.6 percent stake.

Egyptian businessman Naguib Sawiris is the chairman of La Mancha, which invests in precious metals mining across the world.

“Our listing marks the start of the next phase of our evolution and will see us become the largest pure gold producer on the premium segment of the London Stock Exchange, with access to a deeper pool of capital,” said Endeavour president and chief executive Sebastien de Montessus.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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