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Ashurst has advised Commonwealth Securities Limited as the lead arranger and the joint lead managers on Tribeca Global Natural Resources Limited’s (Tribeca) proposed initial public offering and listing on the ASX as a listed investment company.
Firm: Ashurst (Commonwealth Securities Limited)
Value: $250 million
Area: Corporate
Key players: Corporate partner Sarah Dulhunty led the team which included senior associate Scott Lai and lawyer Diana Oh.
Deal significance: Commonwealth Securities, operated by the Commonwealth Bank of Australia, is also known as CommSec and is Australia’s largest online stockbroking firm.
The Tribeca fund was established “to take advantage of the structural opportunity to provide financing solutions to natural resources companies as a result of the regulatory-driven retrenchment of traditional lenders to the sector,” according to the Tribeca website.
Joining Commonwealth Securities Limited as joint lead managers are Morgans Financial Limited, Ord Minnett Limited, Shaw & Peters Limited and Taylor Collison Limited.
Tribeca’s investments will be managed by Tribeca Global Resources Pty Ltd.
The prospectus for the proposal was lodged on 24 August with the Australian Securities and Investments Commission.
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