Caerus Mineral Resources joins London IPO flurry

It was just the latest company to join a flurry of initial public offerings on the LSE which had enjoyed a strong start to 2021.

Caerus Mineral Resources intends to list on the LSE's Main Market.

It is a London-based exploration and resource development company focused on developing mineral resources in Europe to supply the global 'Clean Energy' drive.

Also on Friday, management disclosed the acquisition of New Cyprus Copper, which it said gave it access to a suite of copper and gold exploration licenses on the Mediterranean island.

The company completed a fundraising through Novum Securities Ltd via a placing of 21.0m shares at 10p each, raising £2.1m.

It also entered into two subscription agreements for a total of 1.5m shares to raise £150,000.

"We are pleased to announce our intention to list on the London Stock Exchange. Caerus will provide the market with access to the re-emergence of Cyprus as a key producer of copper and a contributor towards the growing Clean Energy-based Economy," said Chief Executive Martyn Churchouse.

The announcement came shortly after takeaway delivery company Deliveroo on Thursday confirmed it had picked London for a potential listing. It also follows, Parsley Box, Moonpig Group and Dr Martens plans to go public.