Logo of KEFI Gold + Copper PLC
KEFI Gold + Copper PLC, listed on the London Stock Exchange and working on projects in Ethiopia and Saudi Arabia, announced the appointment of financial advisers to prepare for a potential dual listing of its shares on the Saudi Exchange (Tadawul).
In a statement, KEFI said Saudi Arabia’s aspiration to expand in the mining sector led to increased interest from local and regional capital to invest in the Kingdom. The dual listing in Saudi Arabia will complement that of London.
Although KEFI has evaluated similar offerings in Canada or Australia, the gold producer is currently prioritizing the dual listing in Saudi Arabia.
Executive Chairman Harry Anagnostaras-Adams underlined that KEFI is establishing itself in the Arabian-Nubian Shield (ANS) region, especially in Saudi Arabia, where it has 15 exploration licenses, covering approximately 1,000 square kilometers.
Now, according to the executive, is the “perfect time” to plan for a dual offering. He also expected the listing to be well received.
Founded in 2006, KEFI began to put focus on the ANS region in 2008, when it kicked off exploration activity in Saudi Arabia, according to Argaam’s data.
In 2009, the gold producer formed a joint venture (JV) with Abdul Rahman Saad Al-Rashid Co. (ARTAR) to explore gold and related minerals in the ANS region, where the former operates the project.
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