Colin Biggers & Paisley advised Westar Resources in its recent IPO and ASX listing.
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.
For more information please contact Linda Branton on 02 8281 4594 or firstname.lastname@example.org.
This is commentary published by Colin Biggers & Paisley for general information purposes only. This should not be relied on as specific advice. You should seek your own legal and other advice for any question, or for any specific situation or proposal, before making any final decision. The content also is subject to change. A person listed may not be admitted as a lawyer in all States and Territories. © Colin Biggers & Paisley, Australia 2022.