Australia: Colin Biggers & Paisley manages Westar's IPO
Westar is a Perth-based gold exploration company with a number of projects throughout Western Australia. Westar was listed on the ASX in December 2020 following its successful IPO which raised $5 million through the issue of 25 million shares.
Colin Biggers & Paisley provided end-to-end project management of Westar's IPO to ensure that the project objectives were met within the set timetable from start to completion. With the IPO project team split between Colin Biggers & Paisley's office in Brisbane and Westar's in Perth, and unable to meet in person due to coronavirus restrictions, coordination of the due diligence committee and prospectus drafting activities were facilitated by video conferencing.
Westar's Managing Director Karl Jupp said, "The Colin Biggers & Paisley team were always responsive and guided us through the IPO process in the most cost and time-efficient manner. We have nothing but high praise for them."
Westar's success is representative of increased activity in the junior exploration space and is a promising result for other junior explorers looking to undertake an IPO and achieve a listing on the ASX.
Lead Partner, Brent Van Staden, said, "Global capital markets were extremely competitive in the second half of 2020 and it was exciting to see our client in a position to take advantage. We expect this trend to continue through 2021."
The IPO legal team and due diligence was led by Partner Brent van Staden, supported by Damien Gillespie and Joshua Waters.
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