find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Large equity issue boosts Indonesian mining

Large equity issue boosts Indonesian mining

joe.bauerschmidt

The largest rights issue by an Indonesian mining company has been completed with advice from DLA Piper.

Firm: DLA Piper (ANTAM)

Deal: ANTAM has made a rights issue.

Value: US$393 million

Area: Banking and finance

Key players: The team was led by Singapore partner Joe Bauerschmidt (pictured), supported by Oscar Franklin Tan, senior associate, and Jeffrey Sheehy, solicitor, advising on US securities law. Melbourne partner Mark Burger, senior associate Dylan Burke and associate Anna Hedgcock advised on Australian law and Stock Exchange listing issues.

Deal significance: Perseroan (Persero) PT Aneka Tambang Tbk (ANTAM), an Indonesian metals and mining company, has made a Rp5.9 trillion (US$393 million) rights issue.

The transaction, the largest equity issue by an Indonesian mining company since 2010, was oversubscribed, and the new shares were allotted on 2 November.

According to a release from DLA Piper, ANTAM is transforming its business from mining to processed metals manufacturer. The capital raised by the rights issue will fund Phase 1 of ANTAM's East Halmahera ferronickel processing plant, which is expected to be completed in 2018.

In addition to the rights issue, the DLA Piper team also obtained an exemption from the ASX in relation to the rights issue. ANTAM is dual listed on the IDX and ASX.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

“ANTAM did a tremendous job in completing the rights offering within a very tight timeframe,” said Mr Bauerschmidt.


Large equity issue boosts Indonesian mining
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Quentin Bryce
Oct 18 2017
DV has worsened in a generation: Quentin Bryce
Former governor-general of Australia Dame Quentin Bryce AD CVO has spoken of her deep distress about...
Lawyers
Oct 18 2017
Academics entertain the idea of law without lawyers
Researchers from Queensland will explore some of the most disruptive trends tipped to transform the ...
Please, Continue (Hamlet), Melbourne Festival
Oct 16 2017
Hamlet suffers slings and arrows of top Victorian barristers
Victorian judges and barristers have performed the unique play Please, Continue (Hamlet) at the Melb...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...