Westar Resources lists on ASX
The Perth-based gold exploration company has been advised by Colin Biggers & Paisley on its recent IPO and ASX listing.
Firm: Colin Biggers & Paisley (Westar Resources).
Deal: Westar Resources has listed on the Australian Securities Exchange (ASX).
Value: $5 million.
Key players: The team advising Westar was led by Colin Biggers & Paisley partner Brent Van Staden, supported by Damien Gillespie and Joshua Waters.
Deal significance: Westar officially debuted on the ASX in December 2020 following its successful $5 million IPO through the issue of 25 million shares.
As part of its advice, Colin Biggers & Paisley provided end-to-end project management of Westar’s IPO “to ensure that the project objectives were met within the set timetable from start to completion”, a statement from the firm confirmed.
“With the IPO project team split between Colin Biggers & Paisley’s office in Brisbane and Westar’s in Perth, and unable to meet in person due to coronavirus restrictions, co-ordination of the due diligence committee and prospectus drafting activities were facilitated by video conferencing,” it noted, with lead partner Brent Van Staden adding that the global capital markets sector was “extremely competitive in the second half of 2020”.
“It was exciting to see our client in a position to take advantage. We expect this trend to continue through 2021,” Mr Van Staden said.
Commenting further on the transaction, Westar managing director Karl Jupp said: “The Colin Biggers & Paisley team were always responsive and guided us through the IPO process in the most cost and time-efficient manner.
“We have nothing but high praise for them.”