BRISBANE-based Aston Resources debuted on the Australian stock market today, in a deal law firm Freehills worked on.
Mallesons Stephen Jaques acted for the underwriters.
Freehills is acting for Aston Resources Limited on its initial public offering and listing on the Australian Stock Exchange.
Aston Resources announced the successful completion of the bookbuild of its IPO on 6 August, and its shares commenced trading on ASX today.
The coal mining development company owns the Maules Creek project in the Gunnedah Basin, New South Wales.
Under the IPO, Aston Resources will raise approximately $400 million and, following listing, its market capitalisation is expected to be approximately $1.2 billion.
This represents the largest IPO by both amount raised and listed since the Myer IPO in 2009, which Freehills also acted on.
Freehills partner and co-head of the equity capital markets Philippa Stone said: “We are proud to have helped Aston Resources achieve such a milestone in its business. Freehills mobilised a dedicated team across several practice groups and states to assist Aston Resources successfully launch its IPO.”
The preparation of the IPO included the renegotiation of Aston Resources’ senior facilities. Freehills used lawyers from within it corporate, equity capital markets, head office advisory, banking and environmental practice areas.
The Freehills team was led by Sydney-based corporate partners Philippa Stone and Tony Sparks and Brisbane-based corporate partner Matthew Fitzgerald, who were supported by senior associate Daniel Scotti and lawyers Kenneth Stanton and Ivan Yu.
Assisting on the banking aspects of the transaction was partner Hayley Neilson, who was supported by senior associate Sam McDonough and lawyers Jessica Saya and Warren Brandt.
The team at Freehills’ Brisbane office, who worked closely with Aston Resources, included executive counsel Mary Boittier and lawyers Tony Field and Matthew McKeown.