Panmure Liberum acts as Nomad and Joint Bookrunner on Zanaga Iron Ore’s oversubscribed and upsized £5.7m (US$7.7m) fundraise
We are pleased to announce that Panmure Liberum acted as Nomad and Joint Bookrunner on Zanaga Iron Ore Company Limited’s oversubscribed £5.6 million placing and subscription and accompanying £0.1 million retail offer.
Zanaga Iron Ore Company Limited is an iron ore exploration and development company, with its flagship asset being the 100% owned Zanaga Iron Ore Project, located in the Republic of Congo.
Due to strong institutional investor demand, the size of the placing and subscription was upsized by approximately 33%. Proceeds will be used to support the completion of Zanaga’s bulk sampling programme as it progresses towards a Final Investment Decision at the Zanaga Iron Ore Project. The fundraise will also cover all working capital requirements, corporate overheads and in-country overheads for a period of at least 12 months.
The placing and subscription were conducted via an ABB, alongside the retail offer which completed on 15 May 2026, with settlement and admission expected on 22 May 2026.
