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Grant Thornton has advised long-time client Jupiter Mines on their recent Initial Public Offering (IPO) – which stands to be one of the largest IPOs in the metals and mining industry in the last decade.
Raising A$240 million, Jupiter Mines has listed on the ASX with a market cap of around A$780 million.
This is Jupiter Mines second listing after they made a strategic move to delist in 2014, when market conditions dipped in the E&R industry.
Jupiter now holds a 49.9% interest in the single largest manganese mine in South Africa, and third largest in the world – the Tshipi Borwa Manganese Mine, located in the rich Kalahari manganese field. Jupiter also has two iron ore projects in the Yilgarn region of Western Australia.
For many years, Grant Thornton has worked with the team at Jupiter on their tax and auditing needs and has seen the business grow to what it is today.
Grant Thornton Partner Neil Cooke and the team also advised Jupiter on their first listing on the ASX – some 14 years ago.
‘The opportunity to work with Jupiter Mines on their second IPO is extremely rewarding, as we are, once again, working alongside them as they enter the next phase for their business,’ said Neil.
‘Fortunately, we have also had an ongoing relationship with them as their tax and audit partner, so when the opportunity came up to support this latest strategic move, we had the client and industry experience to support them.’
According to Melissa North, CFO at Jupiter Mines: ‘Having retained a long-standing relationship with Grant Thornton has been extremely beneficial. Their knowledge of our business and the industry ensured our recent listing was as seamless as possible’.
For more information about the listing, here is Jupiter Mines announcement.
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