Stanmore Resources Digs In on A$500m Equity Deal

It’s taken Stanmore Resources nearly a month, but the company seems to be finally getting ready to launch a A$500 million ($363 million) equity raising to buy BHP’s coal mines in Queensland, The Australian Financial Review reported.

Investor sources said Stanmore and its broker Petra Capital were ramping efforts to squirrel away support, taking early bids from institutional investors in Australia and offshore.

Read the full report: The Australian Financial Review.

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Tags: Australia

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.