CoAL prepares for London listing

Perth-based Coal of Africa has appointed Morgan Stanley & Co and Evolution Securities as joint brokers as it prepares to list on the London Stock Exchange.

Evolution has also been appointed as nominated advisor to the company, while the company's current broker Mirabaud Securities remains as a joint broker.

"The appointment of Morgan Stanley & Co. and Evolution Securities adds a wealth of experience in the resources sector and compliments CoAL's growth strategy," managing director of CoAL Simon Farrell said.

"These appointments come at an exciting time for CoAL as the Company makes the transition from developer to producer and considers admission to the Official List in London."

The company, which holds several projects in South Africa, is already listed on London's Alternative Investments Market and on Johannesburg's stock market.