South African company Pallinghurst within the UK, South Africa, Zambia and Mozambique has announced intentions to list on the London Stock Exchange (LSE).

The JSE-listed diversified miner’s new target comes after restructuring and successful acquiring Gemfields.

Gemfields recently delisted from London’s Aim Stock Exchange following the takeover offer by Pallinghurst.

Following Gemfields’ delisting, Pallinghurst intends to exercise its rights to acquire all remaining Gemfields shares, subject to reaching the requisite threshold.

“Management is fully committed to unlocking the significant and full value potential of Pallinghurst for the benefit of all shareholders,” said Pallinghurst chairperson Brian Gilbertson.