Long conveyor belt transporting ore to the power plant
Long conveyor belt transporting ore to the power plant

Commodities

Delivering capital to fund growth in metals mining

Largest global equity raising in the metals and mining sector for 20161.

Sector Commodities
Sub-sector Metals and mining
Location United States

Opportunity

In 2016, diversified base metals miner MMG was looking to strengthen its balance sheet and fund project development, having recently acquired a flagship copper mine.


Approach

Macquarie acted as sole financial adviser and underwriter on a successful rights issue, providing an important capital injection to fund the company’s growth pipeline.

Outcome

The largest rights issue executed in 2016 across the global metals and mining sector2.

97% take-up

Offer heavily oversubscribed 5.5x with 97% take-up from existing shareholders

$US512 million

Successfully completed a complex, cross border $US512 million 1-for-2 rights issue

Advisory services

Leveraged Macquarie's full suite of advisory services across Australia and Asia

1. Ex-China A share in 2016. Source: Bloomberg 2016.
2. Ex-China A-share market.

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