LONDON, July 5, 2026, 15:06 BST
- Coastal Africa Group Limited LON:CAGL was last quoted at 200p, 24.2% above its 161p AIM subscription price.
- The stock showed no five-day change last week, with reported volume of zero on four of five sessions and 40 shares on Thursday.
- The latest 100p/300p bid-offer quote puts a wide range around a company still looking for its first operating asset.
- About 93.3% of the issued share capital is not in public hands, leaving roughly 9.1 million shares in the public float by company data.
Coastal Africa stock holds £53 million AIM premium, but thin float leaves price hard to read
Coastal Africa Group Limited LON:CAGL ended its first full July week quoted 24.2% above its AIM subscription price, but the trading tape gave investors little proof that the gain is backed by active demand.
London’s market is shut for the weekend. The latest delayed quote from Hargreaves Lansdown showed Coastal Africa at a 200p open and 200p previous close, with a 100p sell price and 300p buy price. The same data put market value at £271.57 million and exchange market size at 1,500 shares.
That leaves a wide price range around a small free float. Coastal Africa said its issued share capital is 135,783,627 shares and that 93.3% is not in public hands. On that basis, only about 9.1 million shares are in public hands, worth about £18.2 million at 200p.
| Measure | Admission / base | Latest delayed quote | Investor read |
|---|---|---|---|
| Subscription price | 161p | 200p midpoint | Up 24.2% |
| Equity value | £218.66 mln | £271.57 mln | About £52.9 mln higher |
| Bid-offer | Not stated | 100p / 300p | Spread equals 100% of midpoint |
| Public float | 6.7% implied | About 9.1 mln shares | About £18.2 mln at 200p |
| Exchange market size | Not stated | 1,500 shares | About £3,000 at 200p |
MarketScreener’s five-day data showed Coastal Africa closing at 200p each day from June 29 to July 3. Reported volume was zero on Monday, Tuesday, Wednesday and Friday, and 40 shares on Thursday. The same table showed a 125p low on Thursday before the stock closed back at 200p.
| Date | Close | Reported volume | Daily change |
|---|---|---|---|
| June 29 | 200p | 0 | 0.0% |
| June 30 | 200p | 0 | 0.0% |
| July 1 | 200p | 0 | 0.0% |
| July 2 | 200p | 40 | 0.0% |
| July 3 | 200p | 0 | 0.0% |
The lack of volume matters because Coastal Africa is still an investing company, not an operator. In its June 10 AIM admission statement, it said it did not own any trading business or operational assets and had not generated revenue. It said it aimed to make an acquisition that would turn it into an operating company.
The company raised about £17.36 million by issuing 10,783,627 shares at 161p. BP Oil International Limited also agreed to subscribe for £10 million of convertible loan notes. Coastal Africa said it entered an exclusivity agreement with BP Oil International for crude oil and condensate offtake and marketing.
There has been no fresh regulatory statement from Coastal Africa since the June 10 admission announcement, according to its Investegate RNS page. That puts more weight on quote quality, free float and acquisition timing rather than new company news for the week ahead.
Non-Executive Chairman Peter Kimpel said at admission that the first day of trading “marks an important milestone”. Chief Executive Conrad Clauson said the AIM listing put Coastal in a “strong position” and pointed to a “significant opportunity” in shallow-water West African projects. Investegate
The next test is whether Coastal can put its cash and BP Oil International link behind a real asset. The company said it intends to make an initial acquisition within 18 months and will first look at minority, non-controlling interests in West African oil and gas assets.
For now, the market value is doing more work than the market tape. A 200p quote values Coastal Africa at about £271.6 million, but the latest public data points to a share register dominated by large holders, a thin public float and a week in which almost no stock changed hands.
