International law firm Simmons & Simmons has advised Greatland Resources Limited on the UK elements of its successful cross listing on the Australian Securities Exchange (ASX) and London Stock Exchange’s AIM Market (AIM), a A$490m (£235m) fundraising in Australia, a £7m retail offer in the UK, and the reorganisation of its group structure pursuant to a UK Court approved Scheme of Arrangement.
Greatland’s ASX listing marks a milestone for Greatland following its transformative US$475m acquisition of the Havieron gold-copper project and the Telfer gold-copper mine and processing plant in 2024 which was part funded through a US$325m placing, and readmission to AIM. Greatland Resources is now the Australian holding company of the Greatland Group which is listed on the ASX and on AIM and has a market capitalisation at the offer price of over £2.1 billion (A$4.5bn)
The significant A$490m (£235m) fundraising conducted as part of the reorganisation and cross listing was a combination of a A$50m (£23.9m) primary offer of new shares, and the sale by major shareholder Newmont of half of its shares in Greatland for A$440m (£210m).
The Simmons team was led by partner Alexander Keepin, supported by associate Lucy MacDonald. Partner Charles Hawes advised on US securities matters. King & Wood Mallesons acted for Greatland in Australia and the same teams also acted on the 2024 transaction.
Commenting on the firm’s support for Greatland, Alexander Keepin commented: “It has been a privilege to support Greatland again. Today’s cross listing on the ASX and AIM of Greatland completes its transformation into a leading cross listed new Australian gold and copper producer. We congratulate the team on another important step and look forward to working with Greatland as it capitalises on its world-class assets.”
