LONDON, April 1, 2011 /PRNewswire-FirstCall/ -- Lonrho Plc (LONR) has had its prospectus approved by the UK Listing Authority to join London Stock Exchange Main Market as a Premium Listing.
The Company will make the transfer from the London AIM market and is scheduled to be admitted to trading the Main Market (Premium Listing) on 26th April 2011.
Lonrho has a one hundred year history of building successful businesses across sub Saharan Africa and is currently operating in seventeen countries in five strategic divisions focused on servicing the infrastructure and support requirements for the rapidly growing agriculture, oil and mineral sectors in Africa. http://www.lonrho.com
Africa is increasingly becoming a more prominent emerging market and as a result is attracting the attention of global investment funds that understand the opportunities available on the continent in the agricultural, oil and mineral sectors and the economic potential of a population that is approaching one billion consumers.
The Lonrho businesses are directly aligned with the key drivers of African economic growth, and the transition to the Premium List on the UK Main Market will significantly expand the Company's exposure to a wider base of global institutional investors providing increased access to capital markets and potential investors.
David Lenigas, Executive Chairman of Lonrho Plc, commented:
"Lonrho's rise to the UK Main Market (Premium Listing) is a significant step in the continued growth of the Company. We are seeing an increasing appetite from global investors to partake in the economic growth of Africa. Lonrho provides an interesting opportunity for investors in that it only operates in Africa; is working in seventeen countries across the Continent; and is focused on providing the infrastructure and support services to the agriculture, oil and mineral sectors, the drivers of African growth "
Enquiries: Pelham Bell Pottinger Charles Vivian +44-(0)-20-7861-3126 +44-(0)-7977-297903 James MacFarlane +44-(0)-20-7861-3864 +44-(0)-7841-672-831 Philippe Polman +44-(0)-20-7861-3921 +44-(0)-7841-672-830
SOURCE Lonrho Plc