Business · Markets · 2 hrs ago
Abenójar Tungsten plans a dual listing in Spain and London
Abenójar Tungsten made its London stock market debut to raise money for its Spanish mining project.
The company is developing the El Moto mine in Ciudad Real, where it plans to extract tungsten from 2029.
Investors bought new shares for €170 million, taking a 25% stake in the company.
The funds and a Deutsche Bank loan will help pay to build an underground mine.
The European Commission has called the project strategic because tungsten is used in weapons and other equipment that must withstand high heat.
Abenójar is also considering a plant in Puertollano to process the metal in Spain rather than export it.
The company plans to seek a Spanish listing in 2027, alongside its London listing, because it is based in Spain and has many local shareholders.
Abenójar Tungsten plans to list its shares in Spain in 2027 while keeping its London listing.
The Spanish company develops the El Moto mine in Ciudad Real.
It raised €170 million by selling new shares in its London debut.
The shares closed their first day of trading down 0.5% at 101.5 pence.
The company says a dual listing makes sense because it is based in Spain and many of its shareholders are local.
- Who
- Abenójar Tungsten, a Spanish company developing the El Moto mine.
- What
- It plans to list in Spain in 2027 while keeping its London listing.
- When
- The Spanish listing is planned for 2027.
- Where
- The company plans to list on Spain’s BME, alongside its London listing.
- Why
- The company says it is based in Spain and many of its shareholders are local.
This story does not have two clearly opposing sides.
Abenójar Tungsten made its London debut, with shares closing down 0.5% at 101.5 pence.
The company plans to list on Spain’s BME while maintaining its London listing.
- London debut price
- 101.5 pence per share
- First-day change
- Down 0.5%
- Funds raised
- €170 million
- Planned Spanish listing
- BME in 2027
- El Moto mine
- Ciudad Real