Kolar Gold Chooses Guernsey Base

by Jason Gorringe, Tax-News.com, London

05 July 2011

Channel Islands legal services provider, Carey Olsen has advised Kolar Gold on the Guernsey aspects of its listing on the AIM Market of the London Stock Exchange.

The company is the first Indian gold explorer and mine developer admitted to trading in the UK and has raised GBP12m (USD19.3m) in its initial public offering (IPO).

Kolar Gold has been established as a Guernsey-registered company and aims to provide investors with access to opportunities for gold discoveries in the prospective Kolar Gold Belt in the Bangalore region of southern India.

Carey Olsen was instructed by Memery Crystal, Kolar Gold’s lead London advisors, to act on the Guernsey aspects of the IPO.

Carey Olsen corporate partner Fiona Fleming said: “Kolar Gold’s offering is something unique in the UK marketplace. It is the first Indian mine developer to list on AIM and shows the diversity of both this market and of Guernsey as a jurisdiction. Carey Olsen has great experience of enabling innovative companies to list on UK markets through Guernsey and we were delighted to be able to advise Kolar Gold on their successful IPO”.

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