“It is not every day that you bring an operational goldmine to the market in the midst of a global pandemic,” lead partner Russell Lyons says
K&L Gates has assisted precious metals producer Manuka Resources on its successful ASX listing and IPO.
The gold and silver production and exploration company is a new entrant into the Australian market. According to Mining News.net, Manuka Resources received strong support from both institutional and retail investors, generating $7m.
K&L Gates said that the company’s IPO was “heavily oversubscribed.” The funds will mainly be applied to the company’s infill drilling and exploration programs for its gold and silver projects in central western NSW.
“While the completion of the IPO and ASX listing marks the end of one exciting phase for Manuka, as an ASX-listed entity, it is now well placed, adequately funded, and ready to embark on the next exciting phase of its corporate and operational development,” executive chairman Dennis Karp said.
Bell Potter Securities managed the IPO’s general public offer component.
K&L Gates corporate and capital markets partner Russell Lyons congratulated Manuka Resources on the successful listing.
“We are very pleased to have been able to assist Australia's newest gold producer with its successful IPO and ASX listing,” he said. “It is not every day that you bring an operational goldmine to the market in the midst of a global pandemic. We congratulate Manuka and very much look forward to being part of their future growth and success.”
Lyons worked alongside senior associate Joel Farina and lawyer Leon Fung on the deal.
In June, Lyons also led a team that advised tech company Dicker Data Limited on a $65m capital raising effort.