- Armour Energy (AJQ) has appointed Morgans Corporate as its lead manager for the initial public offering and proposed listing on the ASX of McArthur Oil & Gas
- McArthur Oil & Gas is the holder of Armour’s Northern Basin assets
- McArthur is expected to make an initial public offering (IPO) and apply for a quotation of shares in the first quarter of 2022, pending demerger conditions
- Shares in Armour Energy have remained flat today, trading for 2.4 cents as of 1:15 pm AEDT
Armour Energy (AJQ) has appointed a lead manager for the initial public offering and proposed listing on the ASX of McArthur Oil & Gas.
McArthur Oil & Gas is the holder of Armour’s Northern Basin assets, and is expected to make an initial public offering (IPO) and apply for a quotation of shares in the first quarter of 2022, pending demerger conditions.
Australia’s largest national stockbroking and wealth management network, Morgans Corporate, has been appointed as lead manager.
Morgans will work alongside Armour’s corporate advisors, Bizzell Capital Partners and JB Advisory Partners, who will also support the IPO raising.
Armour Energy’s CEO, Brad Lingo, said the appointment of Morgans is a significant milestone for McArthur in its journey towards an ASX listing.
“Morgans are very knowledgeable about these assets and have a strong track record of delivering successful IPO transactions,” Mr Lingo said.
Armour said the successful completion of the proposed IPO of McArthur will significantly strengthen the company’s balance sheet, while setting McArthur up to be able to move forward with the appraisal and development of its resources.
Other IPO work streams will also continue to be progressed via Fluid Energy Consultants, who have been appointed to act as independent experts for geological reporting.
The consultants are working on an independent geologist’s report required for the IPO prospectus, as well as legal and accounting due diligence.
Shares in Armour Energy have remained flat today, trading for 2.4 cents as of 1:15 pm AEDT.