Capital Financing
Abenójar Tungsten prices London IPO at 110 pence per Share, raising approximately £142.5 million
Amount raised
Approximately £142.5 million
Gross proceeds, per the company
Issue price
110 pence per Share
Securities issued
103,171,871 Shares in the Offer
Plus direct subscriptions for €34,603,844 of Shares
Settlement or listing date
30 October 2026
Expected Admission and unconditional dealings
Summary
Abenójar Tungsten, S.A. announced on 27 October 2026 the successful pricing of its initial public offering at 110 pence per Share. The company states the IPO will raise approximately £142.5 million of gross proceeds (equivalent to €170 million at a EUR:GBP rate of 0.8382). This is based on an institutional offer and a retail offer of in aggregate 103,171,871 Shares raising gross proceeds of £113,489,058, and direct subscriptions for €34,603,844 of Shares at 110 pence per Share. Based on the Offer Price, the company states its market capitalisation will be approximately £522.2 million at the commencement of conditional dealings. Admission to the Main Market of the London Stock Exchange is expected at 8.00 a.m. (London time) on 30 October 2026.
Offer terms
| Term | Detail |
|---|---|
| Instrument | Ordinary shares in the Company, offered in an initial public offering |
| Tranches | Institutional offer and retail offer of in aggregate 103,171,871 Shares raising gross proceeds of £113,489,058, and Direct Subscriptions for €34,603,844 of Shares to facilitate participation in the Offer by certain persons in Spain |
| Price | 110 pence per Share |
| Retail offer | 4,531,796 of the new Shares will be issued to retail investors through the Retail Offer, raising approximately £5 million |
Use of proceeds
- The company states that the proceeds of the IPO provide it with the capital to continue advancing the development of El Moto towards its target of first production in 2029
Timetable
| 27 October 2026 | Commencement of conditional dealings in the Shares on the London Stock Exchange expected at 8.00 a.m. (London time) under the ticker ABT |
|---|---|
| 28 October 2026 | EUR:GBP rate applied at 4:00 p.m. (London time) to determine the final number of Shares under the Direct Subscriptions and the final number of Management Shares |
| 29 October 2026 | Final number of Shares under the Direct Subscriptions, Management Shares and total Shares in issue following Admission to be announced on or around 7:00 a.m. (London time) |
| 30 October 2026 | Admission and commencement of unconditional dealings expected at 8.00 a.m. (London time) |
Source: Abenójar Tungsten announcement dated 27 October 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
