Sayenko Kharenko acted as lead counsel on admission of the entire issued shares of natural resource company Bluebird Merchant Ventures Ltd (“Bluebird“) to the Standard Listing segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange.
Bluebird is a Philippine focused resource company involved in trading of copper concentrates and operating the Batangas Gold Project in the Philippines together with ASX-listed joint venture partner Red Mountain Mining Ltd.
Admission to trading on the Main Market and commencement of dealings in Bluebird’s shares took place on 13 April 2016. The implied market capitalisation of Bluebird on admission was deemed to be approximately GBP 10.6 million.
Bluebird IPO is the first mining IPO on the Main Market since June 2015. Commenting on the transaction, partner Andrei Liakhov said: “We are very proud to be involved in the first mining IPO on the Main Market of the London Stock Exchange for some time. This is a demonstration of the strength and dedication of our mining team, which helped Bluebird to achieve success in unstable markets. I hope that this is the first sign of renewed investor interest in the mining industry”.
Thrings LLP provided English law advice to Optiva Securities Limited, a financial adviser and broker of Bluebird. Walkers assisted Bluebird with BVI law issues.
The core team included counsel Alina Plyushch
, associates Vasyl Liutyi and Kateryna Zhebanova with assistance of Sayenko Kharenko’s corporate and M&A and banking and finance teams and was led by partner Andrei Liakhov.