Stellar Diamonds, a West African-focused explorer and producer, is gearing for trading following the completion of a £10.4 million takeover by West African Diamonds, the Daily Telegraph said.

The company is expected to begin trading with £19 million in market capitalization.

Despite favorable listing projections, West African Diamonds Chairman John Teeling is expected to step down: "I wish the new board and management every success. They have a good platform on which to build a serious African-based diamond mining company," he told the Telegraph.

Stellar Diamonds plans to use revenue from two producing alluvial mines at Bomboko and Mandala to fund its development projects in Sierra Leone and Guinea.