Zanaga Iron Ore Company (LSE:ZIOC) has launched a conditional retail share offer through RetailBook, giving private investors the opportunity to participate in the company’s latest fundraising alongside institutional investors.
The company said new ordinary shares will be offered at 4 pence each, representing a 13.1% discount to the closing mid-market share price on 13 May. The retail raise is being conducted separately from a previously announced institutional placing and subscription.
The AIM-listed iron ore developer said the proceeds from the retail offer would be used for additional working capital and general corporate purposes.
The retail offer is open to both existing shareholders and new investors in the UK, with a minimum subscription of £250. Investors can apply through RetailBook’s network of participating brokers, investment platforms and wealth managers, with shares eligible to be held in ISAs, SIPPs and general investment accounts.
The offer is conditional on admission of the new shares to trading on AIM, which is expected to take place on 22 May 2026. Completion of the retail offer also depends on the successful completion of the institutional placing.
Zanaga said it decided to include a retail tranche as part of the fundraising in recognition of its private shareholder base and to allow wider investor participation.
The company noted that the total value of shares available under the retail offer will be capped at £500,000 unless increased at the company’s discretion. It also reserved the right to scale back applications or reject subscriptions.
The retail offer is expected to close at 9 p.m. on 14 May, although the company said it could close earlier in the event of strong demand or at its discretion.
RetailBook will not charge commission on applications submitted through the offer, although investors may still face fees from their chosen broker or platform.
Zanaga also reiterated the risks associated with investing in AIM-listed companies, warning that investments in smaller and emerging businesses can carry a higher degree of risk and that shareholders could lose part or all of their invested capital.
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