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Almost moving day for Sirius Minerals

Sirius shares start trading on London's main market on Friday.

London Stock Exchange logo on wall outside of the building
The mine developer could potentially join the FTSE 250, according to Shore Capital

Sirius Minerals PLC (LON:SXX) has today published the prospectus for its move up from the AIM market up to London’s main market.

At the same time, the company also confirmed the anticipated timeline for the share’s transfer.

The British miner’s shares last trading day on AIM will be on Thursday April 27, with the switch following on Friday April 28.

Sirius confirmed its intention to move up in March, alongside a project update.

It said the move would also provide a “more appropriate platform for its growth and is in keeping with the nationally significant nature of the company's project and its market capitalisation”.

FTSE 250 bound

Earlier this month, stockbroker Shore Capital said that Sirius is well positioned to become a FTSE 250 company and highlighted that there are signs that ‘basket’ investors are already buying the shares.

“Assuming its market cap remains at around the current level, Sirius should be well positioned to be considered for inclusion in the FTSE 250 index during the June 2017 rebalancing process,” Shore Capital analyst Yuen Low said in a note.

“That said, we note that even inclusion in the All Share index would result in the relevant tracker funds being obligated to invest in the company.

“We believe that Sirius is already benefiting: we think that the recent sharp rise in the share price is occurring in anticipation.”

Quick facts: Sirius Minerals PLC

Price: 3.424 GBX

LSE:SXX
Market: LSE
Market Cap: £240.34 m
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