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Jackson McDonald advises Jupiter Mines on its successful ASX listing and A$240 million IPO

18 April 2018

Jackson McDonald has acted as lead legal adviser to Jupiter Mines Limited on its successful ASX listing and A$240 million “sell-down” Initial Public Offering.

The listing of Jupiter represents the largest mining float on ASX since South32 in 2015, and one of the largest resources IPOs on ASX for several years.

Jupiter has a 49.9% share in the Tshipi manganese mine in South Africa, one of the world’s largest and most profitable manganese mines. Jupiter is one of the very few ‘pure play’ manganese companies listed on any stock exchange in the world.

“We are very pleased to have advised Jupiter on its successful listing”, said Jackson McDonald partner Will Moncrieff. 

“The IPO was unique in that it involved no capital raising for Jupiter, but instead a coordinated sale by some of Jupiter’s major shareholders of some of their shares, predominantly to institutional investors, with Jupiter acting as selling agent. The IPO was achieved in a tight timeframe with a relatively small but dedicated IPO team, consisting of Jupiter management and advisers in Australia and South Africa. We assisted Jupiter in de-listing from ASX in 2014, when it considered the market was under-valuing its investment in Tshipi. Its successful re-listing in 2018 at a much higher market capitalisation is a fantastic outcome for Jupiter and its shareholders.”   

The Jackson McDonald team comprised Will Moncrieff (Partner), Alastair Lagrange (Associate), Simon Ringrose (Solicitor) and Hamish Taylor (Senior Associate) advising on corporate and listing matters and Adel van der Walt (Special Counsel) and Brendan Fyfe (Partner) advising on mining tenure and technical reporting compliance matters.

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