In today’s briefing:
- Evolution Mining Placement – Back to Equity Markets Again to Fund Another M&A Deal
Evolution Mining Placement – Back to Equity Markets Again to Fund Another M&A Deal
- Evolution Mining (EVN AU) is looking to raise around US$350m to partially fund its acquisition of an 80% stake in the Northparkes copper and gold mines.
- While the acquisition wasn’t explicitly flagged, the firm has guided that it had been eyeing acquisitions into gold/copper pathways. Thus, we would argue that the deal is somewhat well flagged.
- That being said, at 14 days of three month ADV, the deal isn’t a particularly small one for the firm to digest.
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