Greatland Gold sets stage for dual ASX and AIM listing

LONDON - Greatland Gold plc (AIM:GGP), a mining and exploration company, has announced the lodgment of a prospectus with the Australian Securities & Investments Commission (ASIC) and the Australian Securities Exchange (ASX) for the initial public offering (IPO) of its subsidiary, Greatland Resources Limited. This move is part of Greatland Gold’s efforts to cross-list on the ASX in addition to its current listing on the AIM market of the London Stock Exchange (LON:LSEG).

The IPO aims to raise up to A$50 million through the sale of Greatland Resources shares. Additionally, a secondary offer could potentially see half of the shares allotted to Newmont NOL Pty Ltd sold, subject to demand and pricing. The IPO is not underwritten, and the final offer price will be determined after a bookbuild process scheduled for June 16-17, 2025.

Greatland Gold shareholders approved the cross-listing scheme on May 12, 2025, under which they will receive one Greatland Resources share for every 20 Greatland Gold shares they hold. The anticipated effective date of the scheme is June 20, 2025, with the AIM admission expected on June 23 and ASX quotation on June 24, 2025.

In the UK, a separate retail offer aims to raise an additional A$14 million, targeting existing shareholders and new investors. This offer will be conducted through RetailBook and is not part of the Australian prospectus.

Bank of America Securities, Barrenjoey Markets, and Canaccord Genuity have been appointed as joint lead managers for the ASX listing and offer, with Sternship Advisers and Argonaut Securities serving as co-managers. The entry into the offer management agreement is considered a related party transaction, but SPARK Advisory Partners Limited, acting as the Company’s nominated adviser, has confirmed the agreement’s terms as fair and reasonable for shareholders.

This strategic move by Greatland Gold is expected to enhance the company’s visibility and access to capital markets, potentially broadening its investor base. The listing process and subsequent share offers are subject to customary conditions and court approval. Further details regarding the UK retail offer will be announced separately by the Company.

The information in this article is based on a press release statement from Greatland Gold plc.

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