New Issues Round Up

LONDON (ShareCast) - Czech coal miner New World Resources (NWR) priced its IPO at £13.25 per share, raising £1.1bn.

The IPO in London, Prague and Warsaw values NWR at about £3.5bn, making it the biggest IPO so far this year in London and the biggest ever in the Czech Republic.

The group said the offer was 7.3 times oversubscribed with high demand from all regions in which the shares were offered.

“The success of the IPO is a clear endorsement of our business, strategy and our unique growth opportunities in the Central European hard coal industry,” said executive chairman Mike Salamon.

“Listing now gives us the enhanced platform and capital base to exploit opportunities for our continued, profitable expansion,” he added.

Mexican gold and silver producer Fresnillo raised £905m in an initial public offering priced at 555p a share.

With a market capitalisation of about £3.98bn, the group said it expects to be considered for inclusion in the FTSE Index.

Fresnillo intends to use the proceeds to re-pay existing debt and to help achieve growth through the delivery of its projects pipeline and expansion of its existing operations.

“The board and the management team are delighted by the level and quality of investor demand in the current market environment,” said chief executive Jaime Lomelin.

“We view this as a sign of confidence in Fresnillo's exciting future,” he added.

Impellam has started trading on AIM following the completion of its merger with Carlisle Group and its acquisition of The Corporate Services Group.

“As a company with nearly £1 billion in revenues and diversified operations across a range of staffing and support services sectors, Impellam is excellently positioned for organic and acquisitive growth,” said chief executive Desmond Doyle.