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Highlights
Bellavista Resources had raised AU$6.5 million via its IPO at 20 cents per share from investors.
Bellavista was incorporated in 2021 with an aim to focus on mineral exploration in Western Australia.
Canaccord Genuity (Australia) Ltd was appointed as lead manager for the IPO.
Bellavista Resources Ltd (ASX:BVR) shares on Wednesday made a debut on the ASX, listing at a premium of 30% to the initial public offering (IPO) price of AU$0.20. Shares of the battery mineral explorer listed at AU$0.26 on the ASX at 12 PM (AEST), hitting a high of AU$0.30.
By 1:16 PM (AEST), the shares dipped and were trading at AU$0.24.
The explorer raised AU$6.5 million at 20 cents per share from investors during its IPO subscription period. The total number of shares on offer was 32.5 million.
High-profile shareholders
Bellavista Resources has to its credit some high-profile investors, including Capricorn Resources Executive Chairman Mark Clark and Bellevue Gold Managing Director Steve Parsons. Both have acquired a 10% stake in in the company. Similarly, Capricorn CEO Kim Massey and Bellevue Gold’s non-executive director Michael Naylor hold a 6% stake each.
In addition, some globally renowned institutions hold nearly 12% in the company. The leading 20 shareholders in the company account for 59% in the firm (on listing).
Canaccord Genuity (Australia) Ltd was appointed as lead manager for the IPO.
About Bellavista Resources
Bellavista was incorporated in 2021 with an aim to focus on mineral exploration in Western Australia (WA).
Bellavista Resources targets large, high-grade base metal and battery mineral deposits in Western Australia. “The company has a large and highly prospective tenement package that covers approximately 100km of strike of the northern margin of the highly prospective Edmund Basin,” according to Bellavista’s official website.
The exploration and mining company’s projects include Brumby Deposit, Vernon Base Metals, Vernon Nickel-PGE, and Gorge Creek, which are highly prospective for zinc, copper, silver, PGE, and uranium deposits. The company plans to use the raised capital mainly for exploration activities.
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