Tharisa Plc moves London shares to SETS following Karo funding milestone

Tharisa Plc, a platinum and chrome producer, will transition its London-listed shares to the London Stock Exchange’s flagship SETS electronic order book starting October 1. The move is intended to improve liquidity, narrow bid-offer spreads, and increase access for international institutional investors.

This transition follows a significant financial milestone for the company regarding its Karo Platinum Project in Zimbabwe. Tharisa has secured US$300 million in funding through a five-year senior secured Nordic bond, which is currently held in escrow. The proceeds are primarily designated for the completion of the Karo project, which is expected to produce approximately 226,000 ounces of platinum group metals (PGMs) annually at full Phase 1 capacity.