Chrysos Corp has secured $180 million for its IPO and its shares will begin trading in early May.
street talk. Louie Douvis
Investment bank Barrenjoey Capital underwrote the capital raise over the weekend after conducting an institutional bookbuild late last week.
The underwriting effectively guarantees Chrysos’ listing. The company expects to file its prospectus this week.
The IPO would raise Chrysos $180 million at $6.50 per share in a deal that values it at $535 million on an enterprise value basis and $637 million in terms of market cap.
It is Australia’s largest IPO so far this year.
The company manufactures gold analysis machines that are leased to miners on long-term contracts (typically five years with an additional five-year option).
Shareholders include Australia’s CSIRO, which developed the group’s technology, as well as fund managers Regal Funds, Wilson Asset Management and Tribeca Investment Partners.
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