Carey Olsen has advised Kolar Gold on the Guernsey aspects of its listing on the AIM Market of the London Stock Exchange.

The company is the first Indian gold explorer and mine developer admitted to trading in the UK and has raised £12m in its initial public offering (IPO).

Kolar Gold has been established as a Guernsey registered company and aims to provide investors with access to opportunities for gold discoveries in the prospective Kolar Gold Belt in the Bangalore region of southern India.

Carey Olsen was instructed by Memery Crystal, Kolar Gold's lead London advisors, to act on the Guernsey aspects of the IPO.

The team from Carey Olsen was led by corporate partner Fiona Fleming with senior associate Geoff Ward-Marshall and associate Imogen Payne.

Advocate Fiona Fleming said: "Kolar Gold's offering is something unique in the UK marketplace. It is the first Indian mine developer to list on AIM and shows the diversity of both this market and of Guernsey as a jurisdiction. Carey Olsen has great experience of enabling innovative companies to list on UK markets through Guernsey and we were delighted to be able to advise Kolar Gold on their successful IPO."

The administrator and company secretary is Ardel Fund Services Limited in Guernsey.

Kolar Gold adds to Guernsey's reputation for Indian AIM IPOs, following from previous listings including iEnergizer, Skil Ports & Logistics Ltd, Caparo Energy Ltd, Indian Energy Ltd, Indus Gas Ltd and The Indian Film Company Ltd.

For more information about Guernsey's finance industry please visit

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