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Nickel Mines advised on $200m IPO
Global law firm DLA Piper have advised Nickel Mines Limited (NIC) on its $200 million initial public offering.
Jerome Doraisamy
Firm: DLA Piper (NIC); Bell Potter Securities Limited (lead manager, IPO)
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Deal: NIC was advised on its IPO and began trading on the Australian Securities Exchange, with its market capitalisation at the offer price of $486 million.
Area: Capital markets.
Value: $200 million
Key players: The DLA team was led by consultant James Philips and senior associate Adrian Tan and supported by partner David Ryan and solicitor Claudia McEwen.
Deal significance: Mr Philips and Mr Tan said they were excited to have advised NIC on this “milestone” transaction.
“There was strong demand for NIC shares in this IPO from sophisticated investors,” they said.
“NIC began as a direct shipping operation of nickel ore but is now set to emerge as a downstream nickel producer as a result of securing its refining capacity within the IMIP [Indonesian Morowali Industrial Park].”
Funds from the IPO will primarily be used by NIC to increase its interest in two new Rotary Kiln Electric Furnaces currently under construction within the IMIP, in collaboration with NIC’s partner, Shanghai Decent.
