Nick Williams advised Optiva Securities Limited (
Optiva) on its role as broker to Asiamet Resources Limited (
Asiamet) in a £10 million equity fundraising which completed today (5 March) on the admission of the shares subscribed to trading on the AIM market operated by the London Stock Exchange (
AIM).
The fundraising comprised a firm placing by Optiva of 395,454,545 new common shares of par value $0.01 each in Asiamet (
Shares) to raise a gross amount of approximately £8.7 million, and a placing by way of an accelerated bookbuilding process for which Optiva was the sole bookrunner and under which 45,454,545 Shares were placed, raising gross proceeds of approximately £1.0 million. At the same time Asiamet arranged a subscription of 16,529,658 Shares to raise a gross amount of approximately £0.36 million. The Shares in each case were issued at a price of 2.2 pence per share.
AIM-listed Asiamet is an emerging copper producer focussed on the development of a portfolio of large copper, copper-gold and polymetallic deposits in Indonesia, adjacent to the key growth markets in Asia.
The net proceeds from the placing and subscription will be used for a number of purposes, including completing an engineering programme, commencing early stage detailed engineering and design works, securing project financing for the construction of a copper mine and drill testing a number of high probability copper targets.