28 July 2021

KWM advises EMR Capital and 29Metals on the 29Metals IPO

King & Wood Mallesons is delighted to have advised EMR Capital and 29Metals Limited (ASX:29M) on 29Metals’ IPO and listing on ASX.

29M brings the Golden Grove and Capricorn Copper mines together with tenements in Southern Chile to form a single copper-focussed mining company.

Among other uses, Copper is an essential commodity in the production of electric vehicles and renewable energy technologies required for electrification and decarbonisation of the world economy.

KWM was lead counsel to EMR Capital and 29Metals on all major aspects of the transaction, including co-ordinating a global restructure and navigating the necessary regulatory approvals.

The KWM deal team included KWM Head of Private Equity Mark McNamara, Partners Jason Watts, Paul Schroder and Anthony Boogert, Senior Associates Mark Vanderneut and Emma Warner, and Solicitor Jing Wang, among others.

Commenting on the transaction, Mark McNamara said:

“We were delighted to act for EMR Capital and 29M on one of Australia’s largest mining IPOs in recent times. The IPO allowed EMR Capital to sell down part of its existing interest while retaining a 45% ongoing interest.”

“29M aggregated three of EMR Capital’s copper investments positioning it to support the decarbonisation and electrification of economies, and the global transition to a greener world economy.”

Paul Schroder said:

“The 29M IPO highlights both the extent and importance of private equity participation in the resources sector - a focus area for KWM.”

Anthony Boogert said:

“The KWM team included a broad range of senior specialists across Australia, Singapore and Hong Kong, leveraging the firm’s resources, cross-border and equity capital markets expertise.”

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