Last year, Street Talk reported that the billionaire’s Hancock Prospecting and another family office took up a big slice of the pre-IPO round.
Brazilian Rare Earths will list on the ASX with a market capitalisation of some $315 million, with Canaccord Genuity and Petra Capital working to raise $50 million.The company will hit the bourse on December 18. The listing is by way of 34 million new shares at $1.47. Last year,
Street Talk reported that Gina Rinehart’s Hancock Prospecting and another family office took up a big slice of the pre-IPO round in a raise wrapped by Canaccord The company has 461 square kilometres of tenements in Brazil with a maiden JORC resource of 169 Mt at 1,526 parts per million total rare earth oxides. This, it reckons, translates into multi billion-tonne potential and is comparable to the world’s biggest non-Chinese rare earth clay projects such as Serra Verde.
At the time of the pre-IPO round, the company’s advisors told prospective investors it was expected to list early in 2023 via a $20 million to $30 million IPO.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column.
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