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Nordic mining company delists from ASX
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‘They are not in detention’, says former A-G re kids on Nauru:

Nordic mining company delists from ASX

Mining

King & Wood Mallesons’ Hong Kong office has advised Altus Capital Limited as a sponsor, and Get Nice Securities Limited and Sun Hung Kai Investment Services Limited as underwriters on the HKEX listing of Dragon Mining Limited.

Firm: King & Wood Mallesons (Altus Capital Limited, Get Nice Securities, Sun Hung Kai Investment Services)

Deal: KWM advised Altus Capital Limited as a sponsor, Get Nice Securities Limited and Sun Hung Kai Investment Services Limited as underwriters on the Hong Kong stock exchange listing of Dragon Mining Limited.

Value: HK$101 million

Area: Corporate

Key players: Partner Candy Chan led KWM’s Hong Kong team, with assistance from associates Jonathan Tsang and Omina Leung, trainee solicitor Andrew Watson and legal manager Nicholas Lee.

Deal significance: Dragon Mining was incorporated in Australia and is an “established Nordic player engaged in gold exploration, mining and processing with operating mines, pre-production mining assets and production plants in both Sweden and Finland,” according to a KWM statement.

The company was delisted from the ASX last month and listed on the HKEK on 5 November.

This listing comprised of a public offering for 50,000,000 offer shares that were priced at HK$2.03 each.

Funds raised from the share offer totaled approximately HK$101 million.

Partner Candy Chan said “there are only two transactions of this type in the market and we managed to have worked on both and helped them listed this year.”

She said that “the closing showcases our strength in offering one-stop-shop support and knowledge in respect of Hong Kong and Australian laws.”

“Having advised on both the issuer and underwriters’ side for both listings, KWM has strengthened its market-leading position as the go-to law firm for transactions with Hong Kong and Australian elements.”

Partner and head of the corporate and securities practice for KWM’s Hong Kong office, Dr Sheldon Tse said he was pleased to see the successful listing of Dragon Mining.

“This marks the 10th Hong Kong listing the Hong Kong team has completed in 2018 to date, which would further complement KWM’s track record and presence in the Hong Kong listing space,” he noted.

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