Stanmore Resources’ majority shareholder Golden Energy and Resources will stump up US$300 in Stanmore’s US$506 million raise that launched this morning after weeks of soundings.
Stanmore Resources’ majority shareholder Golden Energy and Resources will stump up US$300 in Stanmore’s US$506 million raise that launched this morningThe offer was structured as a pro-rata accelerated renounceable entitlement offer and priced at $1.10 per share, a 12 per cent discount to the last close and a 3.9 per cent discount to the theoretical ex-rights price .
The remaining amount of US$206 million was underwritten by Petra Capital who had already received commitments from new institutional investors for the total amount it’s underwriting, according to the term sheet. GEAR isn’t taking up its entire entitlement and will have 64 per cent voting power in Stanmore after the raise, down from the 75 per cent it held before.The offer’s retail component runs from March 10 to March 21.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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