Blackstone’s subsidiary Codrus Minerals IPO opens for subscription

Summary

  • Blackstone Minerals (ASX:BSX) announced that the priority offer to its shareholders was now open under the initial public offering (IPO) of its wholly owned subsidiary Codrus Minerals Ltd (CDR).
  • The miner said that its eligible shareholders with a record date of 6 May 2021 were entitled to subscribe up to 500,000 CDR shares in the IPO under the priority offer.
  • On 5 May 2021, Codrus lodged a prospectus with the Australian Securities & Investments Commission (ASIC).

Blackstone Minerals Ltd (ASX:BSX) on Friday announced that the priority offer to its shareholders was now open under the initial public offering (IPO) of its wholly-owned subsidiary Codrus Minerals Ltd (CDR). In its latest trading update, the miner said that its eligible shareholders with a record date of 6 May 2021, who are either residents of Australia or New Zealand, were entitled to subscribe up to 500,000 CDR shares in the IPO under the priority offer.

On 5 May 2021, Codrus lodged a prospectus with the Australian Securities & Investments Commission (ASIC) to raise a minimum of AU$5 million in new equity via the public offer and ASX listing.

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“In order to participate in the BSX Offer under the Prospectus, shareholders should follow the instructions on the priority application form attached to the Prospectus and note the BSX Offer closing date (currently 27 May 2021) may be closed early at the election of the CDR Directors,” Blackstone said.

Details on priority shareholder offer

Blackstone said that the shareholders deciding to invest under the priority offer should carefully read the entire prospectus and consider the risks associated with the offer. The interested investors can also visit the CDR’s official website to download the copy of the prospectus.

Source: © Djbobus | Megapixl.com

The BSX offer opened on the 13 May 2021. The shareholders can make a priority application online on the Automic website.

Public offer

The Public Offer Members may apply under the Public Offer component of the CDR IPO by completing an application form available (attached to the prospectus) or via the Automic website.

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Source: ©Webking   | Megapixl.com

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Stock performance

On Thursday, 13 May 2021, the stock of Blackstone closed at AU$0.35, down 0.020 points, or 6.06% as against the previous closing on Wednesday, 12 May 2021.

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Blackstone competes with BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), Fortescue Metals Group Ltd (ASX: FMG), Evolution Mining Ltd (ASX: EVN), Regis Resources Ltd (ASX: RRL) in the mining sector.


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