Metals Acquisition Ltd Dual Lists on ASX Following Upsized A$325 million IPO
Metals Acquisition Corp (MTAL)
Company Research
Source: Business Wire
HighlightsMetals Acquisition Limited was admitted to the ASX under the code ‘MAC’ and is now dual listed on the ASX and NYSE.MAC raised A$325 million via the issue of 19,117,648 Chess Depositary Interests (CDIs) at A$17.00 per CDI (the Offer), being the top of the indicative price range for MAC’s bookbuild.The implied market capitalisation of MAC following completion of the Offer is A$1.18 billion, making MAC’s ASX listing the largest mining listing on ASX in over 5 years, with the funds raised under the Offer representing the largest amount raised for a mining IPO on the ASX since July 2021.Strong support for the Offer was received from Australian and offshore institutional investors, including MAC’s existing shareholders.The dual listing on ASX provides MAC with greater liquidity and access to capital from Australian institutional and retail investors.Proceeds of the Offer will be used for further development of the Company’s CSA Copper Mine in NSW, to pay a deferred payment due to
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