Amaroq flags Main Market move no earlier than end of July

(Sharecast News) - Amaroq said on Friday that it expects to move its London listing from AIM to the Main Market no earlier than 31 July, subject to regulatory approvals, including approval of its prospectus by the Financial Conduct Authority. The Greenland-focused mining company said it had formally notified the market of its intention to cancel trading on AIM, with the cancellation expected to take place at the same time as, or shortly before, admission to the Main Market.

The move will be implemented by way of an introduction of existing shares, with no capital raising or new share issue planned.

Chief executive Eldur Olafsson said the proposed move reflected the company's recent progress and confidence in its future, adding that a Main Market listing would "enhance our visibility in the capital markets, support access to a broader pool of institutional capital, and further strengthen our platform as we continue to execute our growth strategy."

At 1052 BST, shares in Amaroq were up 1.18% at 85.5p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate