HWL Ebsworth has advised VHM Limited on its IPO on the Australian Securities Exchange (ASX ticker symbol VHM). The IPO raised $30 million in proceeds and saw the company debut with a market cap of $266 million based on an IPO price of $1.35 per share.
VHM Limited is an Australian rare earth and mineral sands company, and proceeds raised under the IPO will be used to support the development of the Company’s flagship Goshen Project, a fast-emerging Tier 1 integrated rare earth and mineral sands project in North-West Victoria, Australia.
The IPO was led by ECM and M&A Partner, Grant Hummel with assistance of Olivia Christensen – Special Counsel, Jade Stuart – Associate and Sarah Condie – Solicitor.
Canaccord Genuity (Australia) Limited acted as Lead Manager of the IPO, supported by Co-Manager Reach Markets, and Standard Chartered Bank as corporate financial adviser.
Note to Editors:
HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.
The firm comprises 1,631 staff including 269 Partners, 976 other legal staff and 386 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.
HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.
HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.
For further information, please contact:
Russell Mailler, Chief Strategy Officer (03) 8644 3569 or rmailler@hwle.com.au
Angelique Kear, National Marketing Manager (02) 9334 8541 or akear@hwle.com.au