Natural resources success for Nabarro

Media > Nabarro news > Nabarro LLP acts for Capital Drilling on Stock Exchange admission

10 June 2010

Nabarro LLP acted for new client, Capital Drilling Limited, on its £83 million admission to the Premium segment of the London Stock Exchange's main market for listed securities and associated £14 million fundraising. Capital Drilling provides drilling services to mining companies.

The Nabarro team was led by corporate partner Richard Beavan and included Ben Macdonald, Sarah Etherington and Michael Kim from the corporate team. Nabarro client, Liberum Capital Limited, acted as sponsor, financial adviser and broker to Capital Drilling and was advised by Charles Russell.

Nabarro LLP has also acted for existing clients, Liberum Capital Limited as nominated adviser, joint bookrunner and joint broker, and Renaissance Capital Limited, as joint bookrunner and joint broker, on the £146.6 million admission to AIM of Ncondezi Coal Company Limited and associated £35.6 million fundraising. Ncondezi's business is the exploration and development of coal mines in the Tete province of Mozambique.

The Nabarro team was led by corporate partners Kristy Duane and Warren Taylor and associate Vicky Clarke. Ncondezi Coal was advised by Charles Russell.

Ben Hendry, head of the Nabarro Natural Resources Group, commented:

"This continues our strong run in the natural resources area adding on our long-standing relationship with UK Coal and the recently announced merger between Caledon Resources plc and Polo Resources plc. These transactions bring the total number of completed natural resources deals on which we have advised since the start of the year to seven."

Head of corporate Iain Newman commented on the transactions:

"These two transactions continue our run of IPOs and secondary fundraisings since the start of the year. Our equity capital markets team has seen activity across a range of sectors and these transactions in the natural resources sector, coupled with previous activity in the gaming and other sectors, further demonstrate the breadth of experience of our capital markets team."