ALMAR is the first among junior companies to go public on the new Russian junior exchange. On March 2, 2022, at the IPO Conference SPB Exchange, together with the largest Russian geological exploration holding Rosgeologia and the Polarctic Capital investment group, announced the creation of a new segment “SPB Juniors”, intended for investments in young, rapidly developing Russian mining companies – “juniors”. ALMAR, in turn, confirmed plans to place 15% of the company’s shares in March of this year.
“The new segment creates all conditions for juniors to attract investment, and therefore we hope to place ALMAR shares in it. The technical readiness of the placement is provided by the exchange, but the timing of the placement will depend on the stabilization of the economy in the country, investors should get support to assess the long–term prospects of the company’s development,” said Alexander Parshkov, a member of the company’s board of directors.
Andrey Novikov, managing partner of the Polarctic Capital investment group (the group’s share in the authorized capital of ALMAR is 8.09%), stressed that the SPB Juniors segment provides a qualifying procedure for juniors, during which the best companies with the most qualified teams are selected, with a good level of exploration of deposits and high quality of their exploration and development projects, confirmed by independent expertise according to Russian and international standards: – “The placement of ALMAR shares in the SPB Juniors segment means a high level of corporate management, transparency and responsibility of the company to investors, as well as readiness to attract financing on the terms of the exchange market,” he added.
During the placement of shares, ALMAR plans to raise 700 million rubles to complete exploration, confirm reserves and design the development of 2 placer diamond deposits for open-pit mining. According to the plan, exploration will be completed in 2022, confirmation of reserves is expected in 2023. From 2024, the company intends to produce up to 1 million carats of diamonds per year, which will take 0.5% of the global diamond market.
Information about PJSC “SPB Exchange”
SPB Exchange is a leading organizer of trading securities of international companies in the Russian financial market. SPB Exchange operates on a B2B2C model, simultaneously focused on retail investors and financial intermediaries as direct clients. Providing investment opportunities for Russian and international investors is based on a wide range of investment products, the principle of “best execution” and the technology of “smart order routing”.
The SPBExchange Group includes subsidiaries operating companies: NC-CC “Clearing Center MFB” (SPB Clearing), which provides clearing services and PJSC “Best Efforts Bank” (SPB Bank), which performs the functions of a settlement depository.
Information about JSC «Rosgeologia»
JSC “Rosgeologia” carries out all types of geological exploration from regional studies for all types of minerals, to the calculation of reserves and commissioning of deposits, has unique competencies in the field of marine geology and offshore work. The holding is the main executor of the state order for the reproduction of the mineral resource base of the Russian Federation.
Information about IG “Polarctic Capital”
The Polarctic Capital Investment Group specializes in investments in junior mining companies of the early stages of development: stages of exploration and organization of development of mineral deposits. Polarctic Capital LLC is a partner of the SPB Exchange – a qualifying agent that carries out the preliminary selection and training of junior mining companies for placement in the SPB Juniors segment. The pilot junior portfolio of Polarctic Capital was JSC “ALMAR – Arctic Diamonds”, the first junior company that successfully conducted a pre-IPO placement in 2021.