- Macarthur Minerals (MIO) announces that the initial public offering (IPO) of its spin-off business, Infinity Mining, has now closed oversubscribed
- The company sought to raise between $7 million and $10 million through the offer, which was oversubscribed at its maximum subscription of $10 million
- Infinity is “on track” to complete its IPO and list on the ASX under the ticker IMI
- As the largest stakeholder, Macarthur Australia, a subsidiary of Macarthur, will collaborate closely with Infinity to maximise shareholder value
- Shares in Macarthur Minerals remained steady on Wednesday, closing at $0.40 each
Macarthur Minerals (MIO) has announced that the initial public offering (IPO) of its spin-off business, Infinity Mining, has now closed oversubscribed.
Under its prospectus dated October 28, 2021, the IPO was launched on November 5, 2021, and closed oversubscribed on November 29, 2021.
The company sought to raise between $7 million and $10 million through the offer, which was oversubscribed at its maximum subscription of $10 million.
Infinity is “on track” to complete its IPO and list on the ASX under the ticker IMI.
Infinity, a spin-off of Macarthur’s non-iron assets, will expedite further exploration and future development potential of the company’s Pilbara assets, allowing Macarthur to focus solely on the development of its flagship iron ore projects, which are located at Lake Giles in the Yilgarn region of southwestern Western Australia.
As the largest stakeholder, Macarthur Australia, a subsidiary of Macarthur Minerals, will collaborate closely with Infinity to maximise shareholder value.
Shares in Macarthur Minerals remained steady on Wednesday, closing at $0.40 each.