Bens Creek IPO 'on the wrong side of the energy transition'

Coal company successfully lists on AIM

James Baxter-Derrington
clock • 2 min read
The placing for the coal miner was “significantly oversubscribed”

The placing for the coal miner was “significantly oversubscribed”

Bens Creek Group, the owner of a metallurgical coal mine, successfully debuted on the UK’s AIM stock market yesterday (19 October), raising questions about the ESG credentials of the UK market.

The company successful raised £7m at a placing price of 10 pence per ordinary share, valuing the firm at £35m, and rose 5% on its first day of trading. Experts say only policy action can burst the carbon bubble This fundraise was specifically issued in order to finance the coal mining operations of the company, including "the refurbishment of the company's coal preparation plant and railroad" and "the acquisition of mining equipment". The company listed its key assets as 17.2m in-place tons of metallurgical coal resources, proven and probable recoverable coal reserves of 2.34m tons...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on ESG

The ETF will be available to investors on London Stock Exchange for a total expense ratio of 0.35%.

Franklin Templeton launches Catholic EM sovereign debt ETF

Article 8 ETF for European investors

clock 28 June 2022 • 1 min read
Daryl Liew, CIO at REYL Singapore.

REYL's Liew eyes return to overweight positions in Asian quality growth names

'It's a question of timing'

clock 28 June 2022 • 3 min read
London Climate Action Week: The most practical solutions

London Climate Action Week: The most practical solutions

What are managers doing?

Investment Week
clock 27 June 2022 • 1 min read