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Highlights
- Greatland (LSE:GGP) wraps up oversubscribed bookbuild for ASX listing
- New shares priced at AUD 6.60 to raise AUD 50 million
- Trading to commence on ASX from 24 June 2025
Greatland Resources (LSE:GGP), an exploration and development company, is gearing up for its debut on the Australian Securities Exchange (ASX) following overwhelming investor interest in its capital raise. The company has successfully completed its bookbuild process and secured firm commitments to issue 7.576 million new shares at a final offer price of AUD 6.60 per share, amounting to gross proceeds of AUD 50 million.
The listing initiative is a significant step for Greatland Resources as it continues to expand its presence in the Australian market. The proceeds raised are expected to be utilised towards general operating costs, corporate expenditures, working capital, and expenses related to the offer. This strategic move will enable Greatland to strengthen its financial footing and pursue its ongoing exploration programs more aggressively.
The company’s ASX listing also coincides with a major secondary offering involving Newmont Corporation’s subsidiary, Newmont NOL. A special purpose vehicle was incorporated to facilitate the sale of up to 66.73 million Greatland shares previously held by Newmont. This block of shares has also received firm commitments for sale, bringing in gross proceeds of approximately AUD 440.4 million for Newmont.
The Australian offering is contingent on the sanctioning of the UK scheme by the UK Court, which will make it effective. Upon completion, all newly issued shares will rank equally with Greatland's existing ordinary shares.
Greatland has submitted its application to be listed on the ASX, with trading expected to commence on a normal settlement basis from 24 June 2025 at 1pm Sydney time (4am London time). Parallel to this, the company will also seek admission of the new shares to trading on the AIM market of the London Stock Exchange, scheduled for 23 June 2025.
While Greatland is currently listed on the London market, this dual-listing move may pave the way for inclusion in key Australian indices, possibly even among ASX200 stocks, if it meets the necessary benchmarks post-listing. Such a development could attract broader institutional attention and elevate the stock’s visibility in the region.
This expansion reflects the growing investor appetite for mining and resource-based companies, particularly those with a strategic footprint in both the UK and Australian markets. Greatland’s ASX debut is positioned as a pivotal moment in its growth trajectory, aligning with its ambition to tap deeper into the Australian investment landscape.
