ariana resources plc said tuesday that it will increase its shareholding in venus minerals ltd following two loan conversions as it advances its plan to list on the london stock exchange the aimlisted mineral exploration and development company said its shareholding will increase to 56 after the conversion of an existing 500000 pounds 601400 loan the company said that an additional gbp200000 loan is expected to convert simultaneously on the same terms taking its holding to 58 the miner said that venus was currently undertaking a capital restructure as it prepares for its initial public offering and in order to complete the ariana share issue the company also said that several drill targets had been identified across the venus portfolio such as copper discoveries in cyprus we are continually assessing market conditions so that we achieve a listing of the company under optimal circumstances in addition various initiatives are being advanced by venus in order to develop our projects in cyprus as efficiently as possible the company said shares at 0849 gmt were up 010 pence or 4 at 263 pence