Paladin Energy Placement
Paladin Energy aims to raise around US$150m (A$200m) via selling 277.8m new shares at A$0.72/per share, 8.9% discount to last close.The proceeds will be geared towards restarting its Langer Heinrich Mine in Namibia and for funding working capital and fees. While the firm has not generated income for the past two periods, the mine has a long performance record and the firm has just secured a sales tender offer amidst surging uranium prices.
In this note, we will talk about the firm’s track record and run the deal through our ECM framework.
Paladin Energy is engaged in the development and operation of uranium mines in Africa, together with exploration and evaluation activities in Africa, Australia and Canada. Co.'s operating segments are Exploration, Namibia and Malawi. The main segment activity in Namibia and Malawi is the production and sale of uranium from the mines located in these geographic regions. The Exploration segment is focused on developing exploration and evaluation projects in Australia and Canada.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
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