trending Market Intelligence /marketintelligence/en/news-insights/trending/FZgVX0InB8MMsFgPN9eLHg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

New IMX Resources unit launches IPO

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

New IMX Resources unit launches IPO

IMX Resources Ltd.said April 4 that its new subsidiary Graphex Mining Ltd. has lodged a prospectuswith the Australian Securities and Investments Commission, inviting investors tosubscribe for its shares under an initial public offering.

Graphex is seeking to issue at least 21.25 million shares toa maximum of 35 million shares at 20 Australian cents apiece to raise up to A$7.0million, including a priority offer for qualified IMX shareholders.

A loyalty option with an exercise price of 25 cents each andan expiry date of three years from issuance will be issued free with every threeshares subscribed for under the prospectus.

Upon successful conclusion of the IPO, the new IMX unit willseek to list on the Australian Securities Exchange and will use the funds raisedto further advance IMX's Chilalographite project in Tanzania, which Graphex will own and operate after IMX completesits previously announced asset restructuringprogram.

The IPO is expected to close May 2, and Graphex shares are anticipatedto start trading on the ASX on May 18.