LONDON, July 3, 2026, 09:21 BST
- Coastal Africa is quoted at 200p, which is 24.2% over its AIM placing price of 161p, though the latest delayed quote showed a wide 100p/300p bid-offer.
- The company reports that 93.3% of its shares are not publicly held, so about 9.1 million shares are in the public float.
- CAGL hasn’t posted any fresh RNS updates since its June 10 admission statement, according to its feed.
Coastal Africa Group Limited (LON:CAGL) showed a paper gain of around £53 million over its AIM listing price on Friday. That move came off a quote that had thin price depth, with no new company updates. London traded as usual, with the LSE open from 8:00 a.m. to 4:30 p.m. local time.
Coastal Africa’s midpoint was 200p, broker data showed, with quotes at 100p on the sell side and 300p to buy. The same data had the open and previous close at 200p. Coastal Africa’s market cap sat at £271.57 million. No volume was reported. Exchange market size was 1,500 shares.
| Measure | Admission / base | Latest delayed quote | Investor read-through |
|---|---|---|---|
| Share price | 161p placing price | 200p midpoint | Up 24.2% |
| Equity value | £218.66 mln at admission | £271.57 mln | Increase of £52.91 mln |
| Bid-offer | — | 100p / 300p | Spread is 100% of the midpoint |
| Implied value at bid/ask | — | £135.78 mln / £407.35 mln | Range is wide with no asset deal yet |
| Exchange market size | — | 1,500 shares | Roughly £3,000 at 200p |
The data is key as Coastal Africa remains an investing group, not an operator. At admission, the company said it had no trading business, no operational assets and had posted no revenue so far. It stated it aimed to make an acquisition to become an operating business.
The company’s own investor page points out why the stock can move easily—only a small float trades. Coastal Africa has 135.8 million shares out, but 93.3% aren’t in public hands. That leaves just about 6.7%, or 9.1 million shares for the public, by the numbers.
| Holder / category | Shares | Stake |
|---|---|---|
| The Crest Trust | 112,791,667 | 83.07% |
| Joh. Berenberg, Gossler & Co. KG | 6,434,782 | 4.74% |
| PK Investments Ltd | 6,250,000 | 4.60% |
| Shares not in public hands | — | 93.3% |
| Estimated shares in public hands | roughly 9.1 mln | roughly 6.7% |
No fresh filings showed up to account for the new re-rating. The only thing on Investegate’s CAGL page was the June 10 “Admission to AIM and First Day of Dealings” notice. Investegate
Coastal Africa pulled in gross proceeds of around £17.36 million after selling 10.8 million shares at 161p each. BP Oil International, a BP PLC (LON:BP) subsidiary, also agreed to buy £10 million in convertible loan notes.
BP gives Coastal a partner for financing and marketing, though there are still no producing assets. The admission statement said the two companies signed an exclusivity deal for crude oil and condensate offtake and marketing on Coastal Africa projects.
Chief Executive Conrad Clauson said at the listing Coastal spotted “a significant opportunity across shallow-water West African projects.” Chairman Peter Kimpel said the AIM debut was an “important milestone.” Investegate
Governance is also at play. Coastal Africa says it’s set up in the British Virgin Islands and works mainly in West Africa. It points out that shareholder rights are not the same as in a UK-based company. The group says it isn’t covered by the UK Takeover Code, but its articles have language similar to Rule 9.
Coastal Africa’s acquisition countdown has started. The company said at launch it aimed to make its first acquisition within 18 months, and is also considering minority, non-controlling stakes in West African oil and gas.
