Commodities
Sector | Commodities |
Sub-sector | Critical minerals |
Location | Asia |
Macquarie Capital has a long history of advising MMG, acting as sole underwriter on MMG’s $US512 million rights issue in 2016 and as financial adviser for its $US1.88 billion acquisition of Botswana’s Khoemacau copper mine in early 2024.
Macquarie Capital assembled a multi-jurisdictional deal team of equity capital markets, corporate finance, and critical minerals and energy specialists. Key shareholders and sector specialist funds across Asia, Australia and Europe were targeted with effective global marketing to communicate MMG’s equity story.
Timing for the transaction was also optimised to launch after a major index inclusion and rebalance of the company’s stocks, which increased the number of potential subscribers and ultimately improved take up of the rights offering.
Outcome
This transaction was the second largest Hong Kong equity offering in 2024, the largest Asia mining equity offering since 2018, and the largest rights issue in the mining sector in the history of the Hong Kong market.1 It supports MMG’s equity position and enables the ongoing development of its copper and base metal mines, playing a key role in supporting the energy transition.
largest mining rights issue in Hong Kong’s history1
largest ECM transaction in Asia’s mining sector since 20181
subscribed rights issue
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