The banking and finance team at Memery Crystal have advised a private client on the… Read more
Memery Crystal sets the gold standard with Yamana Gold London dual-listing
At a glance
London, 13 October 2020 – Memery Crystal is delighted to announce that it has advised NYSE/TSX-listed Yamana Gold on the admission of its shares to trading on the standard segment of the London Stock Exchange. The listing comes after a hugely successful year for Memery Crystal, as the leading advisor on dual-listings of natural resources companies for 2019
Yamana Gold is one of Canada’s largest gold producers with land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Its entrance to the market is the second biggest listing by market cap ($5.58 billion / £4.3 billion) of 2020, with the company now one of the LSE’s biggest pure-play senior gold producers by revenue.
The listing will provide UK and European investors with exposure to gold from the Americas, while enhancing the company’s liquidity and access to the large pools of equity capital available in the UK, Europe, the Middle East, and Asia. The company currently produces close to 1 million ounces of gold each year.
Partner, Kieran Stone commented:
“We’re extremely pleased that this day has come for Yamana Gold and proud of how smoothly the listing process ran, from initial discussions through to today’s announcement.
“It’s a real vote of confidence in London and the UK that companies of this size and nature continue to choose the London Stock Exchange over others. As one of the largest gold mining companies now on the LSE, Yamana Gold is a much-anticipated addition to the market for investors. We were delighted to bring our expertise to a company of this size and prominence.
“The last 18 months have been an exciting, busy time for Memery Crystal for dual listings, building further on our years of natural resources law experience. Our clients (including Pure Gold, Taseko Mines, Valuera Energy and VAALCO Energy) together made up 60% of the natural resources London listings in 2019, making Memery Crystal one of the pre-eminent providers of legal advice for companies looking to list in London. Since listing, we have seen our clients benefit from increased liquidity and share price, which demonstrates the ability of international companies to access London’s broad pool of capital.”
Daniel Racine, President and Chief Executive Officer of Yamana Gold commented:
“We are excited to begin trading on the London Stock Exchange and offer UK and European investors exposure to a pure-play senior gold producer with a high-quality asset portfolio in mining-friendly jurisdictions in the Americas. It was a pleasure to work with Kieran and the rest of the Memery Crystal team who ensured that the whole listing process ran smoothly, efficiently and in accordance with our timetable. Their experience in the mining sector and in particular dual-listings of TSX-listed companies is unrivalled, and we would highly recommend their services.”
CEO & Senior Corporate Partner, Nick Davis commented:
“Having promoted the benefits of London listings across the globe for the last 20 years, working closely with our friends at the London Stock exchange, we are delighted to be advising Yamana Gold on its listing. London has always been a natural home for world class gold companies and this listing demonstrates the continued attraction of the London Stock Exchange to global natural resources companies.”
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