EQUITIES: Downsized A$164m Q Copper IPO Pulled
The up to A$164.5m (US$145m) IPO of the Lady Annie copper mine under the name Q Copper Australia has been withdrawn while the vendor, mining firm Cape Lambert, waits for market conditions to improve. The offering was originally due to close on December 2, but was pushed back to February 3 and downsized from A$203m. There were also rumours that the original deal had been covered but that some UK-based investors had failed to come up with the funds in the settlement process. The deal was led by Patersons Securities.
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