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.
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.
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