Abenójar Tungsten Slips 10% in London Market Debut

✦ Meridian Analysis

Abenójar Tungsten, the Spanish operator of the El Moto tungsten mine in Ciudad Real, completed a London‑listed equity offering that priced its shares at 110 pence, the bottom of the indicated range, and delivered an initial market valuation of roughly €623 million. Public investors – including a disclosed one‑fifth of the capital supplied by Spanish shareholders – purchased the newly issued stock directly from the company. Going forward, the market will look for details that were not disclosed in the announcement, such as the exact use of proceeds, the underwriting syndicate, any lock‑up arrangements, and the timeline for potential secondary offerings.

The Meridian Weekly