CoAL is an Australian company listed on the Australian ASX, London AIM and South African JSE. CoAL is a coal exploration, development and mining company operating in South Africa.
The HWL Ebsworth team was lead by M&A partner, Jeremy McCarthy and senior associate, Justin Pasa.
The placement was made in two tranches, with the second tranch being announced on 31 January 2013, following the receipt of FIRB and PRC regulatory approvals and shareholder approval.
The placement shares were listed on the AIM market of the London Stock Exchange.
Commenting on the placement, CoAL’s CEO was quoted as saying: “The placement would expedite the development of CoAL’s projects and lead to the formation of a strategic partnership and provide direct exposure to the world’s largest coking coal market. The exchange of financial, technical and operational expertise will facilitate the growth and developement of CoAL and the coking industry in South Africa.”
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