Lekoil admitted to London Stock Exchange’s AIM Market

London Stock Exchange Group has welcomed Lekoil Limited to its growth market, AIM. The company raised approximately $50 million and has a market capitalisation of $112.1 million at admission. It is the largest capital raising on AIM this year, and the latest Nigerian firm to float in London following recent admissions by Zenith Bank and Eland Oil & Gas.

In a special gesture, Lekoil was welcomed to market by Alderman Roger Gifford, Lord Mayor of the City of London, who presented a commemorative plaque to the company to mark the occasion.

Founded in 2010 and headquartered in Lagos, Lekoil is an independent, Africa-focused oil and gas exploration company. While most of its assets are in Nigeria, it also has interests in offshore Namibia. Lekoil is the fourth oil & gas explorer with significant operations in Nigeria on London’s markets. Since 2007 oil and gas companies have raised over US $21.6 billion on London’s markets.

London Stock Exchange is the largest international stock exchange for African companies. Since 2008, Africa-focused companies listed on London Stock Exchange have raised over $6.5 billion in new and further issues.