The London Stock Exchange today welcomes Lonrho plc ("Lonrho") to its Main Market. The company, which moves from the Exchange's growth market, AIM, has operations in seventeen African countries, building and investing in transportation, infrastructure, hotel and agribusiness firms across the continent. The firm's market capitalisation has grown from £20.9m upon its admission to AIM in 2001, to £209.6m today.
Ibukun Adebayo, Head of Primary Markets for Africa, South Asia and the Middle East at London Stock Exchange Group, said:
"Lonrho is a great AIM success story. It highlights how strong issuers from a range of sectors and geographies can use our growth market to gain exposure to London's broad international investor base and the extensive expertise of its financial community.
"Infrastructure development in Africa is an increasingly important sector, and we are delighted that companies in this field continue to take advantage of the full breadth of London's equity markets to operate and grow."
David Lenigas, Executive Chairman of Lonrho, said:
"The move back to the Main Market represents a significant vote of confidence in the Company's strategy and vision. We will continue to seek out growth opportunities around sub-Saharan Africa that fit with the proven strategy Lonrho has adopted to date."