Gemfields Raises $30 Million Through Successful Rights Issue

Gemfields Group ( (PLLHF) ) has provided an announcement.

Gemfields Group Limited announced the successful completion of its Rights Issue, raising approximately USD 30 million through the issuance of 556,203,396 new shares. The company received valid acceptances for 82.40% of the new shares, with the remaining shares subscribed by underwriters Assore International Holdings Limited and Rational Expectations (Pty) Ltd. The new shares are set to commence trading on AIM, and the total issued share capital of Gemfields will now be 1,724,230,526 ordinary shares. This capital raise is expected to strengthen Gemfields’ financial position and support its operations in the colored gemstone industry.

More about Gemfields Group

Gemfields Group Limited is a leading responsible miner and marketer of colored gemstones, operating major mines such as the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. The company also owns Fabergé, a prestigious brand that enhances the positioning and consumer awareness of colored gemstones. Gemfields has developed a proprietary grading system and auction platform to ensure a consistent supply of gemstones, contributing significantly to the growth of the global colored gemstone sector.

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