Brisbane firm HopgoodGanim has advised exploration company Renaissance Uranium Limited on its ASX listing and initial public offering (IPO) to raise $8 million.
The IPO is being conducted by way of a broker firm offer and is fully underwritten by Bizzell Capital Partners, RBS Morgans and Wilson HTM, who are acting as joint lead managers and joint underwriters.
According to HopgoodGanim senior associate Michelle Eastwell, who led the team advising on this transaction, the fact that the IPO is fully underwritten demonstrates the confidence the underwriters have in Renaissance Uranium's management team, the company's existing prospective projects, and its strategic direction.
"Renaissance Uranium's management team has a wealth of experience in the uranium industry in Australia," she said.
"The company is focused on the discovery and development of long-term, economically viable uranium-producing assets, and with the increase in demand for nuclear generation worldwide, led by growth in China, India and Russia, and the subsequent increase in demand for uranium, there is significant potential for the company."
The funds raised will be used by Renaissance Uranium for exploration and drilling at existing projects in key uranium provinces in the Northern Territory and South Australia, as well as for the assessment of new value-adding portfolio opportunities.
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