Leading Brisbane law firm HopgoodGanim Lawyers has advised coal exploration company Stanmore Coal Limited on its successful initial public offering (IPO) and ASX listing.
Stanmore Coal’s IPO, which closed in late November, raised the maximum amount of $6 million, with 30 million shares issued at $0.20 per share. The offering was fully underwritten by Bizzell Capital Partners and RBS Morgans.
Stanmore Coal debuted strongly on the ASX this morning with a market capitalisation of $18.64 million (at the $0.20 issue price).
HopgoodGanim Partner Brian Moller, who led the team advising on the capital raising and listing, said that HopgoodGanim’s experience in the resources sector meant the firm was well placed to advise Stanmore Coal on their capital raising and ASX listing.
“We advise both private and publicly listed resources companies within Australia and internationally, as well as working with smaller, emerging explorers and producers, such as Stanmore Coal”, he said.
“We’re very pleased with the response to this IPO, which was oversubscribed. The capital raised will enable Stanmore Coal to continue their exploration projects to identify and develop coal deposits in the Bowen and Surat Basins”.
Contact:
Esther Cohen, Communications Advisor
Tel: 07 3024 0192
