Want to invest in Ballymore Resources IPO? Here is all you should know

Summary

  • Ballymore Resources is offering 55,000,000 shares at an issue price of AU$0.20 each to raise AU$11,000,000.
  • Queensland-based exploration and development company had lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX on 27 May.
  • It had appointed Morgans Corporate Ltd as the lead manager to the offer.

Shares of Ballymore Resources are expected to trade publicly on the ASX on 6 August 2021. Ballymore Resources, which has a proposed ASX code BMR, has offered 55,000,000 shares at an issue price of AU$0.20 each to raise AU$11,000,000.

Queensland-based exploration and development company had lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX on 27 May.

According to the initial public offering (IPO) prospectus, the company does not intend to accept subscriptions more than the minimum subscription of AU$11,000,000. The excess subscriptions would be dealt with in accordance with the allocation policy, it said.

Source: © Jojojojo  | Megapixl.com

READ MORE: How Do I Find Out About an IPO?

It had appointed Morgans Corporate Ltd as the lead manager to the offer. The offer was not underwritten.

Purpose of offer

The company intends to:

  • Raise funds for exploration and development purposes.
  • List on the ASX.
  • Provide the company with access to equity capital markets.
  • Enhance company’s public and financial profile to facilitate further growth of business.

How to invest in Ballymore IPO

The opening date for the offer was 4 June 2021 and it closed on 11 June. Thus, retail investors participated in the IPO between these dates.

READ MORE: Excited about investing in IPOs? Here are few dos and don’ts

Source: © leezhun  | Megapixl.com

About Ballymore Resources

The Queensland-based exploration and development company has a strong portfolio of gold, silver, copper, lead, and zinc projects. The company operates the Dittmer, Ruddygore and Ravenswood projects.

The shareholders holding an interest in 5% or more of the shares on issue include:

  • David Ibrahim A-Izzeddin & Dianah May A-Izzeddin ATF (as trustee for) Jacaranda Family Trust
  • Claire Elizabeth Gilbert ATF Gilbert Family Trust
  • Nicholas Christian Jorss & Katherine Jorss ATF Jorss Family Super
  • Olross Investments Pty Ltd ATF Olross Capital Trust

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