Powered by
MOMENTUM
MEDIA
Freehills isIvanhoe launches capital raising acting for UBS AG, Australia Branch and Morgan Stanley Australia Securities Limited in relation to Ivanhoe Australia's capital raising to raise a…
Freehills isIvanhoe launches capital raising acting for UBS AG, Australia Branch and Morgan Stanley Australia Securities Limited in relation to Ivanhoe Australia's capital raising to raise a minimum of approximately $213 million.
The capital raising has been structured as a one-for-four accelerated, non-renounceable entitlement offer to raise up to approximately $231 million - the $213 million institutional component of which is being underwritten - at $2.88 per new share.
Subject to sufficient demand, Ivanhoe Australia may also proceed with an institutional placement of up to $38 million at $2.88 per new share.
Through the exercise of options, Ivanhoe Australia may also raise up to $136 million in the future.
Freehills partner Philippa Stone said of the deal: "We are delighted to have acted for UBS and Morgan Stanley on what is a significant capital raising for Ivanhoe Australia. The free option provides investors with the benefit of any upside and also gives the company a potential source of future funding."
The Freehills team is being led by Stone, who is supported by lawyers Ivan Yu and Carl Hornigold.
Login
