Shares in Gemfields (LON:GEM) perked up in late trading on Friday as the company revealed that all of the conditions for its takeover of Fabergé have been satisfied.
Fabergé is set to merge with Runway SPV, a wholly owned subsidiary of Gemfields, on Monday, January 28.
As dictated by the terms of the merger, Gemfields has issued 214mln ordinary shares, bring the number of shares in issue up to 540mln.
Broker JPMorgan Cazenove is on record as predicting that the merger with Fabergé will be “transformational” for Gemfields.
“[It] will create an opportunity for the combined business to develop the global market for coloured gemstones and to achieve synergistic benefits at various points in the supply chain,” said analyst Alexander Mees in a note to clients earlier this month.
Gemfields' shares rose 1p to 27.75p.