Perth-based gold explorer Breaker Resources is expected to list on the ASX by April 20, after successfully completing an $8.5 million initial public offering.
Breaker announced today its IPO closed early and oversubscribed, following strong demand from institutional and retail shareholders.
The IPO was priced at 20 cents per share, and included one free option for every two shares issued, with an exercise price of 25 cents per share.
Breaker said the funds would be used to advance exploration across its 5,541 square kilometres of gold tenements in the eastern Goldfields.
“The strong support for our IPO is a vote of confidence in our gold exploration assets, the team and the untapped gold potential of the eastern half of the Eastern Goldfields Superterrane,” executive chairman Tom Sanders said.
“Several international resources funds will dominate the top 20 positions on the register.
“We have an experienced board and management team in place, and intend to commence exploration immediately after listing.”
The float was managed by Patersons Securities. Breaker said it would list on the ASX with 55 million shares on issue, with a market capitalisation of around $11 million.
