Herbert Smith Freehills has advised Ivanhoe Australia Limited on its A$80 million 3 for 10 accelerated non renounceable entitlement offer.
The institutional component of the entitlement offer is underwritten, other than the subscription from Ivanhoe’s parent, Turquoise Hill Resources.
The funds raised will be used to strengthen Ivanhoe’s balance sheet, including eliminating a loan from Turquoise Hill Resources. The additional capital, combined with expected operational cash flows from existing projects, will ensure Ivanhoe is fully funded for planned exploration, corporate costs and the current operating plan at its Osborne mine.
The Herbert Smith Freehills team was led by partner Tim McEwen, who was supported by senior associate Jade Winterburn and solicitor Alex Mackinnon.
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