Northern Star Resources
A$45M Share Placement
On 21 February 2012, Northern Star announced it had raised A$45 million through a share placement of 50 million shares at A$0.90 per share to institutional investors. In addition to the placement, approximately 34 million shares were sold down from existing shareholders at an issue price of A$0.90 per share.
The capital raising was part of the company’s strategy of strengthening its institutional shareholder base and increasing its profile in financial markets.
Net funds raised pursuant to the placement were used to:
- pursue plans for increased production and aggressive exploration activities at its Paulsens and Ashburton gold projects in WA; and
- take advantage of any acquisition opportunities as they arose.
Azure was appointed lead manager to the placement.