Solis Minerals IPO: How to invest in the mineral firm?

Highlights

  • Australian Financial Services licensee and professional investor – Euroz Hartleys Limited is the lead manager of the IPO. 
  • Solis aims to raise up to AU$6 million through an initial public offering at an issue price of AU$0.20 per share.

Latin American focused mining exploration firm – Solis Minerals Limited will soon mark its debut on the ASX under the ticker - SLM. 

Solis aims to raise up to AU$6 million through an initial public offering at an issue price of AU$0.20 per share for an offer of 25 million to 30 million CHESS Depositary Interests (CDIs) over fully paid ordinary shares in the capital of Solis Minerals Ltd. The company is expecting to commence its trading on the ASX on 17 December 2021.

The IPO is managed by an Australian Financial Services licensee and professional investor – Euroz Hartleys Limited, and has closed on 3 December 2021. 

This IPO is intended to "substantially improve its exposure to investors in the ASX market, which has an active and deep junior resources exploration sector." The company is already listed on the TSX.

Incorporated in British Columbia, Solis Minerals is a resource exploration company primarily focused on acquiring, exploring, and developing mineral resource properties. 

RELATED READ - Xpon Technologies IPO: How to invest in the tech firm

Solis has three large-scale, high-quality copper properties in the Andes porphyry copper belt, one of the world's most affluent copper areas. The company also owns 100% option on its newly acquired Mostazal project in Chile, which adds to its existing ILO Norte and ILO Este copper projects in Southern Peru and is a host to recent and historical small-scale production.

Apart from this, the company has maintained a solid capital structure with around 32.7 million outstanding shares and 33% insider ownership. 

How to buy Solis shares after it goes public?

To buy Solis shares after its listing, investors must sign up to a broker with access to the ASX. After signing up, they will be required to provide their financial and personal details like ID and tax file by completing an application form. After that, they can fund their account with bank transfer or by debit card or PayPal.

Once their trading account is funded, they can search for Solis shares by ticker (SLM) or company name. Investors can also limit orders and postpone their purchases until SLM shares reach their desired price.

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK