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Deals

Pointerra to raise $2.5m

Subiaco-based Pointerra has announced commitments to raise $2.5 million through a share placement, primarily to fund the recruitment of further employees and technical resources.

NRW likely to purchase BGC Contracting

Civil and mining contractor NRW Holdings today confirmed it has been selected as the preferred bidder for BGC Contracting.

IGO launches $312m Panoramic takeover

Independence Group is planning to take advantage of nickel miner Panoramic Resources’ operational issues and boardroom changes by launching a hostile scrip takeover bid.

Canon, Scorchers, meat in the middle

A new sponsorship deal between Canon Foods and Perth Scorchers women’s cricket team ticked a number of boxes for Canon principal Arthur Abrahams.

Silver Lake hikes EganStreet bid

Silver Lake Resources has substantially improved the terms of its scrip takeover bid for EganStreet Resources, which disclosed today it had been approached by Adaman Resources with a competing cash offer.

Strike Energy confirms $35m raising

Oil and gas explorer Strike Energy announced today it has raised $30 million through a share placement and is seeking an additional $5 million through a share purchase plan, primarily to fund the company’s exploration and appraisal programs in the Perth Basin.

WA waste business launches $19m IPO

A recycling and waste management business led by Bob McKinnon and Tom Rudas has kicked off plans for a stock market listing, with the company hoping to “supercharge” its growth and turn recent losses

Phylogica to raise $27m

Biotech company Phylogica has announced plans to raise $26.8 million through a rights issue, fully underwritten by chairman and major shareholder Alan Tribe, with the proceeds used primarily to fund preclinicial studies for its leading drug molecule.

Junior explorers raise $8.5m

Nickel-explorer St George Mining has completed an institutional-led placement to raise $5.8 in funding for its flagship project at Mt Alexander, in the north-eastern Goldfields of Western Australia.

Aurora to raise $4m

Bibra Lake-based Aurora Labs has announced plans to raise $4 million through a placement, primarily to accelerate the commercialisation of its 3D printers.

Ibaera Capital lifts bid for Azumah

Azumah Resources’ firm rejection of Ibaera Capital’s initial takeover offer has paid dividends, with the private equity group agreeing to increase its offer for the West Perth-based miner.

$22m sale of WA cattle stations

ASX-listed Rural Funds Group has made its first investment in Western Australia, striking a $22 million deal to purchase three cattle stations that will be leased to Wagyu beef producer Stone Axe Pastoral Company.

Rio enters $6m farm-in with Carawine

Junior gold explorer Carawine Resources has announced a $6 million farm-in and joint venture agreement with Rio Tinto to explore its tenements in the Paterson province in the Pilbara.

Tao to acquire iron ore junior

Subiaco-based Tao Commodities has added to the growing interest among junior mining companies in the Western Australian iron ore sector, after it signed a binding term sheet to buy DSO Mining in a scrip deal worth at least $3.27 million.

Matrix in sale-leaseback deal with APiL worth $20m

Matrix Composites & Engineering announced it has signed a contract with Australasian Property Investments for the sale and leaseback of its Henderson facility.

Finbar strikes JV for CBD apartments

Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.

CSG to be bought out for $141m

Printing and IT services provider CSG is set to be acquired by Japanese firm Fuji Xerox in a deal worth $140.8 million.

Corporate finance deals Oct 14 to 20 2019

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Geopacific raises $40m to help fund PNG project

Geopacific Resources has completed a $40 million share placement, and aims to raise a further $5 million via a share purchase plan to fund its $198.5 million Woodlark gold project in Papua New Guinea.

Seven West offloads magazines for $40m

Seven West Media has struck a deal to sell its magazine assets, which include Marie Claire, Men's Health and New Idea, to Bauer Media for $40 million in cash.

Seven West strikes $92m worth of M&A deals

Seven West Media has announced an agreement to acquire regional TV broadcaster Prime Media, while the Kerry Stokes-chaired company will also divest its radio assets in Western Australia to Southern Cross Austereo.

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