11 November 2013 | AIM Market

AIM Market receives Application from Allana Potash Corp

The Canadian based potash company announced last week that it has filed an application for admission to the AIM Market of the London Stock Exchange for its Company’s common shares.

This has come hot on the heels of its grant of a large scale mining permit and the start of its ‘pre-construction’ of the Danakhil Potash Project in Ethiopia with Allana seeing the application for AIM listing as the next step in becoming an international potash producer.

“Our proposed listing on AIM re-enforces this fact, as well as our commitment to expand our shareholder profile into the UK, Europe, the Middle East and Africa and allow a broader group of investors access to the Allana growth story,” said Farhad Abasov, President and CEO.

Allana’s admission to the AIM Market is anticipated for early December. Read the full story

In other news last week we saw another success story following floatation on the AIM Market with technology firm Kromek announcing it has secured orders worth almost £4 million for its pioneering products.

The firm who are based near Sedgefield and with offices also in the US raised £15 million in an oversubscribed fundraising seeing its shares soar to a high of 59.8p at the end of its first day’s trading from a starting price of 51p.

Arnab Basu, chief executive, said: “We are delighted to report progress in some of the key markets on which we focus, soon after our successful listing on AIM. Kromek has shown its ability to convert opportunities into contracted orders, which demonstrates the strength of our technology and strategy in these fields. We look forward to developing further our relationships with global original equipment manufacturers as we continue to grow.” For more detail on this story see The Journal.

Irish rock drilling product manufacturer and distributor Mincon Group also announced its intention to join the AIM Market and ESM of the Irish Stock Exchange following last year’s revenue growth of 53 per cent.

Kevin Barry CEO of Mincon said “Admission to AIM Market and the ESM Market will allow the business to reach the next level”. See more on this story

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FTSE 100 6708.42 +11.20
FTSE 250 15342.03 -47.49
Dax 9078.28 -2.75
Dow Jones 15761.78 +167.80
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