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Finder completes IPO, lists on ASX
Oil and gas company Finder Energy has been advised on its successful initial public offering and has officially been listed on the Australian Securities Exchange.
Lauren Croft
Firm: Corrs Chambers Westgarth (Finder Energy Holdings)
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Deal: Corrs Chambers Westgarth has advised Finder Energy Holdings (Finder) on its initial public offering (IPO) and subsequent listing on the ASX after raising $15 million.
Value: $15 million
Area: Finance
Key players: The Corrs team was led by partners Oliver Carrick and Peter Jarosek, supported by special counsel Marisa Orr and lawyer Kristen Henshaw.
Deal significance: Established in 2004, Finder is a Western Australia-based oil and gas explorer. Finder has built a portfolio of prospective exploration permits in two of the world’s premier hydrocarbon basins, the North West Shelf of Australia and the UK North Sea. Finder raised $15 million via the issue of 75 million shares at $0.20 per share to fund planned exploration and development activities.
Commenting on the matter, Mr Carrick said: “Congratulations to Finder on their successful IPO and listing on the ASX today which reflects increased activity in the global resources market and heightened oil prices.
“This is a significant milestone and we wish Finder all the best with their next phase growth.”
Finder’s managing director and chief executive Damon Neaves said the deal was an “exciting moment for Finder and our new shareholders”.
“The industry is seeing record earnings being reported and demand for oil continues to grow. We are anticipating a resurgence in exploration investment by the industry,” he said.
