February 21st, 2020 – London
Faberge owner and gemstone miner Gemfields returned to the London Stock Exchange’s junior market yesterday. Its shares surged by 11 per cent on the first day of trading, valuing Gemfields at £148million. It listed at 10.5p and rose to 11.7p last night.
The ruby and emerald specialist, which has counted celebrities such as Hollywood actress Mila Kunis among its celebrity ambassadors, quit AIM in 2017 after a £212m takeover by its biggest shareholder, South African private equity group Pallinghurst. Since then, prices for the gems in which it specialises have risen to record highs, while the diamond market has stalled.