Greatland Gold’s ambitious plans for a secondary ASX cross-listing have garnered overwhelming investor interest, with the deal becoming oversubscribed at the mid-point price range during the weekend.
Investment advisers Bank of America and Barrenjoey reported that prospective investors were eager to acquire shares at prices reaching $6.50 per share.
The surge in interest coincides with gold prices achieving unprecedented heights, surpassing $5,000 per ounce amidst ongoing global economic uncertainty and geopolitical tensions. The IPO’s established price range spans from $6.40 to $6.60 per share, equivalent to 15.3p to 15.78p, with the book build scheduled to conclude on Monday at 2.00 pm AEST.
The anticipated IPO size ranges between $477 million and $490 million, representing an 8.9% to 11.7% discount compared to the London Stock Exchange’s last closing price. The company’s strategic expansion follows its significant acquisition of the Telfer Gold Mine and the remaining 70% stake in the Havieron gold project from Newmont last year, secured for US$475 million.
The Telfer operation, recognised as the largest processing facility in Western Australia’s Paterson province, produces both copper and gold. The proximity of the valuable Havieron processing facility, merely 45km away, enhances the operational synergy of these assets.
With a current UK market valuation of approximately £2.29bn ($4.79bn), Greatland Gold’s ASX listing will position it as a $4bn-plus entity in the Australian market. The listing, scheduled for June 24, is being facilitated by a consortium of financial advisers including Canaccord Genuity, Argonaut Securities, and Sternship Advisers.
The corporate presentation is available for download from https://greatland.com.au or by clicking this link.
UK Retail Offer
As announced by the Company on 2 June 2025, the Company is also conducting a separate offer made by the Company via the RetailBook platform to raise gross proceeds of up to 8 million euros to provide retail investors in the United Kingdom with an opportunity to subscribe for new ordinary shares in the Company at the final offer price determined through the bookbuild. The Joint Lead Managers and Co-Managers are not acting for the Company with respect to the UK Retail Offer.
