Frontier Resources begins trading on AIM

5th Jul 2013 14:24

Frontier Resources began trading on AIM on Friday with over 110m ordinary shares in issue and a market capitalisation of 6.6m pounds.The oil and gas company, which has three onshore exploration projects in Oman, Zambia and Namibia, raised £1.8m before expenses through the placing of 30m new ordinary shares at a placing price of 6.0p.The group said it joined AIM in order to take advantage of the benchmark's "profile, broad investor base, liquidity and the access it provides to institutional investors".Jack Keyes, Chief Executive Officer, added: "AIM is the market of choice for ambitious companies like Frontier and we are excited about the prospects for the future development of our projects, and in particular Oman."RD