Corporate finance SPECIAL REPORT FEATURE

VISION: Michael Manford says Canaccord Genuity has built a business in that aligns with its operating model globally. Photo: Gabriel Oliveira Wall of capital for mining stocks A flood of money for gold miners has defined WA’s corporate finance market this year, with Canaccord Genuity and Macquarie Capital leading the charge.

on mergers & acquisitions have price, currently trading around “They are not swapping in and struggled to complete deals as $US1,808 per ounce ($2,600/oz). out, they are quite distinct.” companies have become super That’s up 16 per cent since the % Canaccord had a lead role on cautious in the midst of COV- start of 2020 and a whopping 41 42 WA capital raisings worth a ID-19. per cent since January 2019. combined $716 million over the But for brokers and lawyers Canaccord Genuity Australia 41 six months to June 30, making it INCREASE IN GOLD working in equity capital mar- chief executive Marcus Free- PRICE SINCE JAN 2019 by far the busiest broking firm. kets (ECM), it has been a buoy- man has been struck by the re- It had lead roles on Resolute ant market. newed interest from offshore Mr Freeman also down- Mining’s $171 million placement, Mark Beyer The Business News Data & In - investors. played commentary suggesting Dacian Gold’s $98 million place- [email protected] sights database of WA-related “It’s improved dramatically, North American investors had ment and entitlement offer, Pan- @AMarkBeyer deals has 236 announced ECM particularly in the gold sector,” switched back to resources after oramic Resources’ $90 million transactions collectively worth he told Business News. pouring money into cannabis placement and Peninsula Ener- 6-PAGE FEATURE $5.7 billion for the six months to Mr Freeman said it wasn’t just and cryptocurrency stocks in gy’s $40 million entitlement offer. HERE have been two very June 30. North American investors. recent years. Canaccord was pipped on the different markets for That’s close to the total num- “London is very much a min- “The investors that we deal Business News’ league table by T corporate finance deal- ber of deals recorded in 2019. ing investment hub as well, like with on the natural resources side Macquarie Capital, which had makers so far this year. One of the big drivers for New York and like Toronto,” he are very different to the investors a lead role on five transactions Corporate advisers working WA has been the strong gold said. in cannabis,” Mr Freeman said. worth $2.2 billion. 16 | | 17

PB | | PB FEATURE Corporate finance Data & Insights Equity Capital Markets - Top Advisers ECM ADVISERS 1H 2020

Number of Value of deals Amount raised FEATURE Lead managers deals ($m) ($m) Key clients Macquarie Capital 5 2259.4 1159.7 Wesfarmers, Newcrest Mining, Dacian Gold

UBS 2 2118.5 1059.3 Wesfarmers

Goldman Sachs 2 1132.5 598.8 Wesfarmers, Emeco Holdings Resolute Mining, New Century Resources, Dacian Canaccord Genuity 42 716.3 538.3 Gold Emerald Resources, Mincor Resources, Aeris Euroz Securities 15 307.6 235.1 Resources Tigers Realm Coal, Northern Minerals, De Grey Argonaut 9 178.1 151.5 Mining Morgans Financial 7 202.1 134.4 Panoramic Resources, Kalium Lakes

Petra Capital 1 125.0 125.0 Red 5

Hartleys 13 95.2 90.7 Decmil, RTG Mining

Bell Potter Securities 11 103.9 61.4 Chalice Gold Mines, De Grey Mining

Number of Value of deals Key clients Legal advisers deals ($m) HWL Ebsworth Lawyers 30 489.4 Red 5, Panoramic Resources, Kalium Lakes

Ashurst 4 288.5 Dacian Gold, Panoramic Resources

DLA Piper 9 278.6 Resolute Mining, Kalium Lakes

Gilbert + Tobin 9 252.7 Panoramic Resources, New Century Resources

Allen & Overy 4 200.7 Dacian Gold, Tigers Realm Coal

Steinepreis Paganin 26 192.4 Emerald Resources, Otto Energy

Corrs Chambers Westgarth 3 163.2 Dacian Gold, Decmil

HopgoodGanim Lawyers 7 169.5 Red 5, Pyx Resources

Herbert Smith Freehills 2 82.0 Australian Finance Group, Atrum Coal

VISION: Michael Manford says Canaccord Genuity has built a business in Australia that aligns with its operating model globally. Photo: Gabriel Oliveira King & Wood Mallesons 3 74.7 Australian Finance Group, Cardinal Resources

which was quiet last year,” Mr Macquarie has had a lead role completed its $25 million pur- Owen said. on many of these, executing 21 chase of Patersons Securities. Speaking at a recent Mines and equity raisings worth approx- -based Mr Free- Wall of capital for mining stocks Money APAC virtual conference, imately $11.3 billion since the man said he was pleased with Hartleys chairman Ian Parker re- start of March. progress so far and planned fur- marked on the increased willing- Initially, most of these ther growth. A flood of money for gold miners has defined WA’s corporate finance market this year, ness of investors to take on risk. transactions were for compa - “We had high expectations “I’ve never seen an appetite nies that had been adversely and they have been met if not with Canaccord Genuity and Macquarie Capital leading the charge. for risk like this,” Mr Parker said. affected by the pandemic and exceeded,” he told Business “The quantity of capital rais- needed to repair their balance News. on mergers & acquisitions have price, currently trading around “They are not swapping in and Macquarie’s ranking was His colleague Stuart Owen ings is extraordinary.” sheet but the market was in - Mr Freeman commended the struggled to complete deals as $US1,808 per ounce ($2,600/oz). out, they are quite distinct.” boosted by two big transac - said the flow of capital was com- The keen interest in WA min- creasingly support growth role played by local chairman companies have become super That’s up 16 per cent since the % Canaccord had a lead role on tions – a $1 billion block trade ing mainly from Australian in- ing stocks is part of a broader stories. Michael Manford and chief op- cautious in the midst of COV- start of 2020 and a whopping 41 42 WA capital raisings worth a of Coles shares for -based stitutions. trend around the strong stock- Mr Owen said the $60 million erating officer Jane Tandy. ID-19. per cent since January 2019. combined $716 million over the Wesfarmers, and a $1 billion “Australian investors have market recovery since its steep raising Macquarie managed last “We had an instant rapport But for brokers and lawyers Canaccord Genuity Australia 41 six months to June 30, making it raising for gold miner New- been very supportive and there dive in March. month for nickel miner Mincor with Michael and Jane and INCREASE IN GOLD working in equity capital mar- chief executive Marcus Free- PRICE SINCE JAN 2019 by far the busiest broking firm. crest, which the Perth office has certainly been renewed Mr Owen said about $25 bil- Resources was an example of that’s been the backbone of the kets (ECM), it has been a buoy- man has been struck by the re- It had lead roles on Resolute supported. interest from North America lion had been raised on the ASX the market supporting growth success we’ve had since comple- ant market. newed interest from offshore Mr Freeman also down- Mining’s $171 million placement, Its WA-focused transactions in the gold and mining sector, since the onset of COVID. raisings. tion in October,” he said. Mark Beyer The Business News Data & In - investors. played commentary suggesting Dacian Gold’s $98 million place- included capital raisings for Da- The buoyant market has con- Mr Freeman said one of [email protected] sights database of WA-related “It’s improved dramatically, North American investors had ment and entitlement offer, Pan- cian Gold, Mincor Resources and tinued into the new financial Canaccord’s key objectives was @AMarkBeyer deals has 236 announced ECM particularly in the gold sector,” switched back to resources after oramic Resources’ $90 million Australian Finance Group. The acquisition of year, with substantial raisings to materially increase its private transactions collectively worth he told Business News. pouring money into cannabis placement and Peninsula Ener- “There is a significant pool of by gold stocks such as Bellevue client footprint. 6-PAGE FEATURE $5.7 billion for the six months to Mr Freeman said it wasn’t just and cryptocurrency stocks in gy’s $40 million entitlement offer. investors chasing these transac- Patersons wasn’t the end, it was Gold ($100 million), Ora Banda It now has 105 private client HERE have been two very June 30. North American investors. recent years. Canaccord was pipped on the tions,” Macquarie Capital direc- Mining ($55 million) and Bardoc advisers, including 55 in WA, different markets for That’s close to the total num- “London is very much a min- “The investors that we deal Business News’ league table by tor John Stanning said. a significant step to create a Gold ($24 million). and about half the firm’s em- T corporate finance deal- ber of deals recorded in 2019. ing investment hub as well, like with on the natural resources side Macquarie Capital, which had “The miners, including the substantial platform from which The strong market has been ployees are in WA. makers so far this year. One of the big drivers for New York and like Toronto,” he are very different to the investors a lead role on five transactions juniors, are seeing a very sup- well timed for Canaccord Genu- Corporate advisers working WA has been the strong gold said. in cannabis,” Mr Freeman said. worth $2.2 billion. portive market.” we can grow - Marcus Freeman ity, which in October last year Continued on page 18 16 | | 17

PB | | PB FEATURE CORPORATE FINANCE

DEAL: Stuart Owen (left) and John Stanning lead Macquarie Capital’s team in Perth. Photo: Gabriel Oliveira

Mr Freeman flagged plans to cial, said the combined group WA accounts for about 40 recruit more people in Perth to Wall of capital for worked well because it brought per cent of the national wealth increase Canaccord’s coverage together the capital markets management operation. of junior mining stocks. strength and global distribu- In ECM, Mr Manford said the mining stocks “We are going to seriously tion network of Canaccord combined group was able to tap ramp up our coverage of the with the wealth management three main markets for raising From page 17 He explained that Canaccord junior mining sector in Western and capital markets operations capital – North American insti- had about 30 people in corporate Australia,” he said. from Patersons. tutions for large raisings, Aus- finance, across its Melbourne, “There will be a material up - “This combination worked tralian institutions and retail and Perth offices. lift in people.” The acquisition made Canac- well for Canaccord and was investors. Coverage of established mid- Mr Freeman also plans to cord the largest broking firm in aligned to the operating model The firm’s deal flow is al- cap miners, including in WA, expand the wealth manage- Perth (see list, page 21). of Canaccord globally,” he said. ready looking positive for the was mostly handled by Canac- ment business, which trades as That ranking will change Mr Manford said the group second half of the year, after cord’s Sydney office. Canaccord Genuity Financial. shortly, assuming Euroz (with had $3 billion in funds under being named as lead manager This was reflected in the sub - “On the wealth side, we are 37 clients advisers) and Hart- management and $15 billion in for DUG Technology’s $26 mil- stantial inroads Canaccord had absolutely looking to grow our leys (with 44 advisers) complete funds under advice in Australia. lion IPO. their announced merger. already made into WA before franchise,” he said. Mr Freeman said the acquisi- the Patersons acquisition. “The acquisition of Patersons tion also gave Canaccord some The Business News database wasn’t the end, it was a significant good capital markets people. shows a steady increase in the step to create a substantial plat- I’ve never seen an “We’ve retained about 10 number of WA deals led by form from which we can grow.” appetite.com.au for risk like this people in corporate finance in Canaccord, from three in 2015 Mr Manford, who is chairman Perth,” he said. to 17 in 2018. of Canaccord Genuity Finan- - Ian Parker

18 | u u | 19

PB | u u | PB FEATURE CORPORATE FINANCE CORPORATE FINANCE FEATURE

One is Chevron’s plan to sell mining companies in WA had Data & Insights M&A - Top Advisers its one-sixth stake in the North strong balance sheets, helped West Shelf venture, which could by the strong prices for gold and be worth about $4 billion. iron ore and the relatively low M&A ADVISERS 1H 2020 Another is Iluka Resources’ currency. planned demerger of its iron ore “They are in a strong position royalties, worth an estimated so they haven’t had to call on Financial advisers Number Value of deals ($m) Key clients of deals $1.8 billion, into a new ASX-list- investors for capital,” Mr Owen ed company. said. Macquarie Capital 2 1800.0 Iluka Resources, New Century Resources The deal flow was also boost- “As a result, we expect that Hartleys 5 809.7 Cardinal Resources, Spectrum Metals ed by Perth lawyers advising will be positive for future M&A on some big-ticket transactions and we are certainly seeing a lot RBC Capital Markets 2 532.0 Mitsubishi Corporation, Warrego Energy outside of WA. of interest in strategic M&A.” Meredith Campion led the Al- Mr Stanning noted that the Canaccord Genuity 3 528.6 Cardinal Resources, Ziptel len & Overy team that advised battery metals sector had suf- French petroleum giant Total on fered this year, after being hit Morgan Stanley 1 300.0 Shandong Gold Mining the $750 million acquisition of by low commodity prices, but he PwC 4 259.1 Zenith Energy, AP Eagers 50 per cent of Adani Green Ener- remained confident it had posi- gy’s solar portfolio in India. tive long-term prospects. Azure Capital 4 228.3 ICG & OPTrust, Emeco Holdings Ms Campion was also lead “There is no doubt if you ask adviser to Mitsubishi Corpora- sector experts where the lith- Bacchus Capital 1 218.6 Nordgold tion on its $440 million bid for a ium price will be in two years, stake in the Mantoverde copper the consensus view is that it is Adelaide Equity Partners 1 200.5 Ramelius Resources mine in Chile. going up given the expected in- A&O advised on a total of five crease in EV sales,” he said. UBS 2 185.0 AP Eagers, Strike Energy M&A deals worth a total of $1.3 The slump may present buy- billion, pushing it to the top of ing opportunities. Legal advisers Number Value of deals ($m) Key clients of deals the league table for legal advis- “It is a logical time for buyers Allen & Overy 5 1365.8 Total, Mitsubishi Corporation ers. to be looking at lithium and bat- Its local clients included tery minerals given the point in King & Wood Mallesons 8 999.8 Brookfield, Shandong Gold Mining, ICG & OPTrust Strike Energy, Mineral Resourc- the cycle,” he said. es and Habrok Mining. In M&A, Macquarie’s Perth HopgoodGanim Lawyers 9 624.8 Cardinal Resources, ZipTel, Aeris Resources A&O sat ahead of King & Wood team has been mandated to Mallesons on the league table. jointly advise on the demerger Invesco, Squadron Resources Clayton Utz 3 469.7 KWM advised on eight trans- of Iluka Resources’ iron ore roy- actions worth a combined $999 alty into a new ASX-listed com- Gilbert + Tobin 12 433.3 Cardinal Resources, OZ Minerals, Exore Resources million; like A&O, its deal flow pany. DLA Piper 9 411.7 Nordgold, Resolute Mining, Cassini Resources was helped by its work for off- This transaction, announced shore clients. in February, is ongoing. MinterEllison 4 323.5 Pacific Equity Partners, Anchorage Capital Partners Perth partner Heath Lewis In addition, Macquarie’s Perth advised London-based private office has team members in- Norton Rose Fulbright 3 275.8 Golden Energy and Resources, EMR Capital equity group Appian Capital volved in Melbourne-based New Advisory on its $144 million in- Century Resources’ proposed Baker McKenzie 3 244.0 Kalbar Operations, AP Eagers vestment in Victorian company acquisition of the Goro nickel DEAL: Stuart Owen (left) and John Stanning lead Macquarie Capital’s team in Perth. Photo: Gabriel Oliveira Ashurst 3 213.0 Alkane Resources, AP Eagers Kalbar Operations to fund the mine in New Caledonia. Fingerboards mineral sands New Century Resources has a project. strong history in Perth and sev- Mr Freeman flagged plans to Mr Manford said one of the These included $C11.1 million Ebsworth Lawyers. KWM also advised Shandong eral directors are based here. cial, said the combined group WA accounts for about 40 recruit more people in Perth to strengths of the wealth man- for cash, $C8.3 million for ‘right It topped the league table af- Gold Mining on its agreed takeo- Macquarie’s metals and min- Wall of capital for worked well because it brought per cent of the national wealth increase Canaccord’s coverage agement operation was its ac- of use’ assets, $C5.7 million for ter advising on 30 capital rais- ver bid for Perth-based and Afri- ing research team is also Perth together the capital markets management operation. of junior mining stocks. cess to a wider range of invest- accounts receivable, $C4.4 mil- ings worth $498 million. ca-focused Cardinal Resources. based and provides coverage of strength and global distribu- In ECM, Mr Manford said the mining stocks “We are going to seriously ment opportunities, including in lion for securities owned and This ranking was unusual for The Shandong deal came WA and national mining compa- tion network of Canaccord combined group was able to tap ramp up our coverage of the technology and e-commerce. other tangible assets and $C5.1 two reasons. three months after Russian nies. with the wealth management three main markets for raising From page 17 He explained that Canaccord junior mining sector in Western For instance, Canaccord recent- million for deferred tax assets. First, it highlighted the lack group Nordgold, advised by DLA Hartleys was the busiest fi- and capital markets operations capital – North American insti- had about 30 people in corporate Australia,” he said. ly had a lead role on raisings for The purchase price also in- of big-ticket capital raisings by Piper, lodged its own takeover nancial adviser on M&A deals, from Patersons. tutions for large raisings, Aus- finance, across its Melbourne, “There will be a material up - Kogan.com, Temple & Webster and cluded $C6.5 million of identi- Perth-based companies; instead proposal. advising on five announced “This combination worked tralian institutions and retail Sydney and Perth offices. lift in people.” BetMakers Technology Group. fiable intangible assets, such as there was a large number of Cardinal had a big team of transactions worth a combined The acquisition made Canac- well for Canaccord and was investors. Coverage of established mid- Mr Freeman also plans to customer relationships and the small and mid-sized raisings. advisers on its side, in both Aus- $810 million. cord the largest broking firm in aligned to the operating model The firm’s deal flow is al- cap miners, including in WA, expand the wealth manage- Disclosure contract book, and $C2.7 million Second, it meant that HWL tralia and Canada, including As well as advising Cardinal, Perth (see list, page 21). of Canaccord globally,” he said. ready looking positive for the was mostly handled by Canac- ment business, which trades as The details of the Patersons for goodwill, defined as the val- Ebsworth finally moved ahead Hartleys, HopgoodGanim Law- it advised Ramelius Resources That ranking will change Mr Manford said the group second half of the year, after cord’s Sydney office. Canaccord Genuity Financial. acquisition were disclosed in ue of expected synergies arising of arch-rival Steinepreis Paga- yers and public relations firm on its $200 million takeover of shortly, assuming Euroz (with had $3 billion in funds under being named as lead manager This was reflected in the sub - “On the wealth side, we are the 2020 annual report of Cana- from the acquisition. nin, which for many years has Cannings Purple. Spectrum Metals, and also gave 37 clients advisers) and Hart- management and $15 billion in for DUG Technology’s $26 mil- stantial inroads Canaccord had absolutely looking to grow our dian parent company Canaccord These assets were offset by been the top legal adviser to HopgoodGanim, which ad- advice to takeover targets Exore leys (with 44 advisers) complete funds under advice in Australia. lion IPO. their announced merger. already made into WA before franchise,” he said. Genuity Group Inc, released last $C21.5 million of unspecified li- small and mid-cap companies. vised on nine M&A deals worth Resources and Alt Resources. Mr Freeman said the acquisi- the Patersons acquisition. “The acquisition of Patersons month. abilities. The league table for mergers & $624 million, ranked third on the The second-ranked adviser (by tion also gave Canaccord some The Business News database wasn’t the end, it was a significant The notes to the financial acquisitions looks very different. league table. number of deals) was Azure Cap- good capital markets people. shows a steady increase in the step to create a substantial plat- I’ve never seen an statements reveal the purchase Legal rankings The announced deals include ital, which counted nickel min- M&A outlook “We’ve retained about 10 number of WA deals led by form from which we can grow.” appetite.com.au for risk like this price of $25 million – equivalent The buoyant market for WA a couple of potentially very er Panoramic Resources, Apex people in corporate finance in Canaccord, from three in 2015 Mr Manford, who is chairman to $C22.6 million – consisted of capital raisings flowed through large transactions that have not Looking ahead, Macquarie’s Opportunities Fund and Emeco Perth,” he said. to 17 in 2018. of Canaccord Genuity Finan- - Ian Parker 10 different components. to the law firms, led by HWL yet been completed. Mr Owen said most established Holdings among its clients.

18 | u u | 19

PB | u u | PB FEATURE CORPORATE FINANCE Major Deals - 6 months to June 2020 EQUITY CAPITAL MARKETS (COMPLETED) Company Transaction Type Amount ($m) Lead managers Lawyer Public Relations Wesfarmers Block trade of Coles shares 1,067.5 Goldman Sachs, UBS Wesfarmers Block trade of Coles shares 1,051.0 Macquarie Capital, UBS Newcrest Mining Placement 1,000.0 Macquarie Capital (JLM) Citadel-MAGNUS Resolute Mining Placement 171.0 Canaccord Genuity DLA Piper Red 5 Placement 125.0 Petra Capital HopgoodGanim Lawyers, HWL Ebsworth Lawyers (for LM) Read Corporate Dacian Gold Placement + entitlement offer 98.4 Macquarie Capital, Canaccord Genuity Corrs Chambers Westgarth, Ashurst (for JLMs), Allen & Overy (US counsel) Panoramic Resources Placement + entitlement offer 90.1 Canaccord Genuity, Morgans Financial Gilbert + Tobin, Ashurst (for Western Areas), HWL Ebsworth (for JLMs) Fivemark Partners Emerald Resources Placement 75.0 Euroz Securities Steinepreis Paganin Emeco Holdings Entitlement offer 65.0 Goldman Sachs Hogan Lovells Kalium Lakes Placement + entitlement offer 61.0 Morgans Financial DLA Piper, HWL Ebsworth Lawyers (for underwriter) Australian Finance Group Placement + entitlement offer 60.0 Macquarie Capital Herbert Smith Freehills, King & Wood Mallesons (for LM) Nusantara Resources Placement 60.0 Clayton Utz Tigers Realm Coal Limited Entitlement Offer 58.8 Argonaut Allen & Overy Decmil Entitlement offer 52.4 Hartleys MinterEllison, Corrs Chambers Westgarth (for LM) FTI Consulting Blackham Resources Placement + entitlement offer 52.2 Arlington Group, Ironbridge Capital Eaton Hall New Century Resources Placement + entitlement offer 51.1 Canaccord Genuity HWL Ebsworth Lawyers, Gilbert + Tobin (for IGO) Mincor Resources Placement 50.0 Euroz Securities, Macquarie Capital Ashurst, Gilbert + Tobin (for JLMs) Read Corporate Northern Star Resources Share purchase plan 50.0 Ashurst Read Corporate Peninsula Energy Entitlement offer 40.3 Canaccord Genuity Citadel-MAGNUS Aeris Resources Placement + entitlement offer 40.0 Euroz Securities Cannings Purple Saracen Mineral Holdings Block trade of Red 5 shares 39.2 Read Corporate Panoramic Resources Entitlement offer 32.7 Morgans Financial Gilbert + Tobin Fivemark Partners Northern Minerals Placement + share purchase plan 32.0 Argonaut Johnson Winter & Slattery Cannings Purple American Pacific Borates Placement 31.2 Peloton Capital, Canaccord Genuity, PAC Partners MERGERS & ACQUISITIONS (ANNOUNCED) Bidder Target Value ($m) Financial Adviser Lawyer Financial Adviser Lawyer RoyaltyCo Iluka Resources's iron ore royalties 1,800.0 Gresham Partners, Macquarie Capital Herbert Smith Freehills Total 50% of Adani Green Energy's solar portfolio 759.0 Allen & Overy Mitsubishi Corporation 30% of Mantoverde copper mine 447.0 RBC Capital Markets Allen & Overy Invesco Brookfield's Chevron tower 400.0 Clayton Utz King & Wood Mallesons BMO Capital Markets, Hartleys, Shandong Gold Mining Cardinal Resources 300.0 Morgan Stanley KingWoodMallesons Canaccord Genuity HopgoodGanim Hartleys, BMO Capital Markets, HopgoodGanim Lawyers, Gilbert + Tobin Nordgold Cardinal Resources 218.6 Bacchus Capital DLA Piper Canaccord Genuity for Gold Fields) Ramelius Resources Spectrum Metals 200.5 Adelaide Equity Partners Allion Partners Hartleys Bennett + Co Golden Energy and Resources Stanmore Coal 175.8 Norton Rose Fulbright MinterEllison, King and Wood Pacific Equity Partners Zenith Energy 150.9 Highbury Partnership, Azure (ICG & OPT) Mallesons (ICG & OPT) PwC Allens Appian Capital Advisory Kalbar Operations 144.0 King & Wood Mallesons Flagstaff Baker McKenzie LNG9 Liquefied Natural Gas 131.3 CIBC Johnson Winter & Slattery Australian Strategic Materials Alkane Resources 113.0 Steinepreis Paganin Ashurst Anchorage Capital Partners AHG Refrigerated Logistics 100.0 MinterEllison Luminis Partners, UBS, PwC Ashurst, Baker McKenzie EMR Capital Resolute's Ravenswood mine 100.0 Norton Rose Fulbright Poynton Stavrianou DLA Piper Viburnum Funds Cranecorp Australia Holdings WND Norton Rose Fulbright Azure Capital Lavan Automic Group Security Transfer Australia WND Ventnor Capital HWL Ebsworth Lawyers BHP Nickel West Norilsk's Honeymoon Well nickel project WND HWL Ebsworth Lawyers Madison Dearborn Partners 55% of APM Group WND Allens Citibank Gilbert + Tobin Chevron's 16.67% stake in North West Shelf Venture N/A Programmed Kelly Services WND Ashurst Baker McKenzie New Century Resources Goro nickel mine N/A Macquarie Capital View our comprehensive database of corporate transaction activity WND - would not disclose Data & Insights businessnews.com.au/bniq/Corporate-Finance 20 | | 21

PB | | PB FEATURE CORPORATE FINANCE CORPORATE FINANCE FEATURE

Major Deals - 6 months to June 2020 Data & Insights WA’s LARGEST STOCKBROKERS Ranked by No. of client advisers in WA EQUITY CAPITAL MARKETS (COMPLETED) Company Transaction Type Amount ($m) Lead managers Lawyer Public Relations Wesfarmers Block trade of Coles shares 1,067.5 Goldman Sachs, UBS Wesfarmers Block trade of Coles shares 1,051.0 Macquarie Capital, UBS Newcrest Mining Placement 1,000.0 Macquarie Capital (JLM) Citadel-MAGNUS Resolute Mining Placement 171.0 Canaccord Genuity DLA Piper Red 5 Placement 125.0 Petra Capital HopgoodGanim Lawyers, HWL Ebsworth Lawyers (for LM) Read Corporate Dacian Gold Placement + entitlement offer 98.4 Macquarie Capital, Canaccord Genuity Corrs Chambers Westgarth, Ashurst (for JLMs), Allen & Overy (US counsel) Panoramic Resources Placement + entitlement offer 90.1 Canaccord Genuity, Morgans Financial Gilbert + Tobin, Ashurst (for Western Areas), HWL Ebsworth (for JLMs) Fivemark Partners Emerald Resources Placement 75.0 Euroz Securities Steinepreis Paganin Emeco Holdings Entitlement offer 65.0 Goldman Sachs Hogan Lovells Kalium Lakes Placement + entitlement offer 61.0 Morgans Financial DLA Piper, HWL Ebsworth Lawyers (for underwriter) Australian Finance Group Placement + entitlement offer 60.0 Macquarie Capital Herbert Smith Freehills, King & Wood Mallesons (for LM) Change No. of Offices from Year Total Client a) WA Nusantara Resources Placement 60.0 Clayton Utz previous est. in staff in Advisers in b) inter-

Tigers Realm Coal Limited Entitlement Offer 58.8 Argonaut Allen & Overy Rank year Company name Senior executive and title WA WA WA state Core Services Research-Yes/No Underwriting Yes/No Issues Yes/No New Planning Financial Yes/No Decmil Entitlement offer 52.4 Hartleys MinterEllison, Corrs Chambers Westgarth (for LM) FTI Consulting Ms Jane Tandy a) 4 Full service stockbroker, substantial research capacity, leading 1 — Canaccord Genuity Group Chief Operating 2019 124 55 corporate finance team. Private asset management and portfolio Yes Yes Yes Yes Blackham Resources Placement + entitlement offer 52.2 Arlington Group, Ironbridge Capital Eaton Hall Officer b) 6 administration services. New Century Resources Placement + entitlement offer 51.1 Canaccord Genuity HWL Ebsworth Lawyers, Gilbert + Tobin (for IGO) 2 — Hartleys Mr Charlie Ransom 1955 115 44 a) 1 Full service stockbroking, corporate advice, equity capital markets, Yes Yes Yes Yes Mincor Resources Placement 50.0 Euroz Securities, Macquarie Capital Ashurst, Gilbert + Tobin (for JLMs) Read Corporate Chief Executive equity research. Northern Star Resources Share purchase plan 50.0 Ashurst Read Corporate Mr Rob Black Stockbroking, corporate finance and wealth management. 3 — Euroz Securities Managing Director 2000 66 37 a) 1 Yes Yes Yes Yes Peninsula Energy Entitlement offer 40.3 Canaccord Genuity Citadel-MAGNUS Mr Charles Bartell a) 1 Full service stockbroking firm, cash management, portfolio Aeris Resources Placement + entitlement offer 40.0 Euroz Securities Cannings Purple 4 — Bell Potter Securities 1964 40 29 management, margin lending, superannuation, research, corporate Yes Yes Yes Yes State Manager b) 15 advisory. Saracen Mineral Holdings Block trade of Red 5 shares 39.2 Read Corporate Mr Sam Turner Stockbroking, financial planning, corporate finance and managed Panoramic Resources Entitlement offer 32.7 Morgans Financial Gilbert + Tobin Fivemark Partners a) 2 portfolios, superannuation and estate planning, portfolio 5 — Morgans Financial Director, Corporate 2002 34 25 b) 58 management, retirement planning, life insurance, fixed interest, Yes Yes Yes Yes Northern Minerals Placement + share purchase plan 32.0 Argonaut Johnson Winter & Slattery Cannings Purple Advisory cash management, margin lending. Mr Jason Peterson Share broking, investment advice, portfolio administration, American Pacific Borates Placement 31.2 Peloton Capital, Canaccord Genuity, PAC Partners 6 — CPS Capital Group 2001 26 21 a) 1 company public relations, institutional dealing and corporate No Yes Yes Yes Managing Director advice. MERGERS & ACQUISITIONS (ANNOUNCED) Morgan Stanley Comprehensive wealth management services for high net worth  Mr Liam Shaw 1999 32 20 a) 1 private investors, family offices and not-for-profit organisations, Yes Yes Yes Yes 7 Wealth Management State Manager b) 4 incorporating investment management, financial planning and Bidder Target Value ($m) Financial Adviser Lawyer Financial Adviser Lawyer portfolio administration.

RoyaltyCo Iluka Resources's iron ore royalties 1,800.0 Gresham Partners, Macquarie Capital Herbert Smith Freehills Mr Davide Bosio a) 1 Wealth management (stockbroking and financial planning). 8  Shaw and Partners State Manager for WA 2014 24 19 b) 5 Yes Yes Yes Yes Total 50% of Adani Green Energy's solar portfolio 759.0 Allen & Overy Provides research-driven institutional and corporate stockbroking Mr Glen Colgan services principally for natural resources companies and businesses Mitsubishi Corporation 30% of Mantoverde copper mine 447.0 RBC Capital Markets Allen & Overy 9 — Argonaut Managing Director 2002 47 17 a) 1 that service the natural resources sector. Part of the Argonaut Yes Yes Yes No Group. Invesco Brookfield's Chevron tower 400.0 Clayton Utz King & Wood Mallesons Ms Sian Shirlaw Wealth management and private banking, full service stockbroking, a) 1 portfolio management, direct and managed investments, BMO Capital Markets, Hartleys, 10 — Macquarie Group State Leader (WA), 1984 125 15 b) 6 superannuation, derivative and structured investments and futures, Yes Yes Yes Yes Shandong Gold Mining Cardinal Resources 300.0 Morgan Stanley KingWoodMallesons Canaccord Genuity HopgoodGanim Macquarie Private Bank succession planning, insurances, retirement planning. Nordgold Cardinal Resources 218.6 Bacchus Capital DLA Piper Hartleys, BMO Capital Markets, HopgoodGanim Lawyers, Gilbert + Tobin Mr Craig Brown Securities trading, managed funds, superannuation, underwriting, Canaccord Genuity for Gold Fields) 11 — Alto Capital 2004 16 14 a) 1 corporate consulting and capital raising, portfolio management, No Yes Yes No Founding Director sophisticated investor placements, research, margin lending. Ramelius Resources Spectrum Metals 200.5 Adelaide Equity Partners Allion Partners Hartleys Bennett + Co State One Mr Alan Hill a) 1 Advisory broking to private clients, high net worth investors. Also Golden Energy and Resources Stanmore Coal 175.8 Norton Rose Fulbright 12 — 1995 36 12 offers (through Amscot - non advisory) a telephone service and an Yes Yes Yes No Stockbroking Executive Chairman b) 2 online broking facility. Pacific Equity Partners Zenith Energy 150.9 Highbury Partnership, Azure (ICG & OPT) MinterEllison, King and Wood PwC Allens Mallesons (ICG & OPT) Ms Amanda Boyce Private wealth management and investment advisory services. a) 1 This includes investment governance, investment portfolio Appian Capital Advisory Kalbar Operations 144.0 King & Wood Mallesons Flagstaff Baker McKenzie 13  JBWere Executive Director, Head 1955 19 10 b) 6 Yes No Yes Yes of Advice for WA & SA management, financial planning and stockbroking. LNG9 Liquefied Natural Gas 131.3 CIBC Johnson Winter & Slattery Sentinel Financial Mr Norman Robinson a) 1 14  2003 17 8 Wealth management and investments entirely via the stockmarket. Yes No Yes No Australian Strategic Materials Alkane Resources 113.0 Steinepreis Paganin Ashurst Group Chief Executive Officer b) 15 Mr Chris Oldfield a) 1 Boutique financial services firm, advising both retail and wholesale Anchorage Capital Partners AHG Refrigerated Logistics 100.0 MinterEllison Luminis Partners, UBS, PwC Ashurst, Baker McKenzie 15 — Barclay Wells 2002 11 8 clients across a range of investments, including listed and unlisted No Yes Yes No Managing Director b) 15 shares, derivatives and managed funds. EMR Capital Resolute's Ravenswood mine 100.0 Norton Rose Fulbright Poynton Stavrianou DLA Piper Mr Karl Laufmann a) 1 Our range of products and services is designed to make investing as Viburnum Funds Cranecorp Australia Holdings WND Norton Rose Fulbright Azure Capital Lavan 16 — EL&C Baillieu State Manager (WA) 2011 9 8 b) 7 easy and uncomplicated as possible. Yes Yes Yes Yes Automic Group Security Transfer Australia WND Ventnor Capital HWL Ebsworth Lawyers Mr Craig Ellis a) 1 17 Ord Minnett Senior Investment Advisor, 2020 NFP NFP Wealth management, stockbroking, portfolio management. Yes Yes Yes Yes BHP Nickel West Norilsk's Honeymoon Well nickel project WND HWL Ebsworth Lawyers Head of Perth office b) 10 Madison Dearborn Partners 55% of APM Group WND Allens Citibank Gilbert + Tobin Full service investment advising, wealth management, self Mr Peter Sheppeard managed super funds, corporate consulting, cash management, 18 — Triple C Consulting Managing Director 2006 3 2 a) 1 Yes Yes Yes No Chevron's 16.67% stake in North West Shelf Venture N/A newsletter/research. Programmed Kelly Services WND Ashurst Baker McKenzie 19 New Century Resources Goro nickel mine N/A Macquarie Capital GET THE FULL LIST ONLINE businessnews.com.au/bniq/stockbrokers 21 WND - would not disclose View our comprehensive database of corporate transaction activity All information compiled using surveys, publicly available data and contact with industry sources. Other companies may be eligible for inclusion. If you believe your company is eligible, please email: [email protected] Data & Insights businessnews.com.au/bniq/Corporate-Finance WND: Would Not Disclose, NFP: Not For Publication, N/A: Not Applicable or Not Available. 20 | | 21

PB | | PB Corporate finance SPECIAL REPORT

Data & Insights SEARCH Corporate finance

Showing 22 of 1,254 results

Appointments July 10, 2020 Advisers compete on 733 deals corporate finance. Prior to this appointment, Mr Greenberg worked as chief Size 20012020_corporate finance.pdf 474.41 KB FINANCIAL planning group financial officer at optical ... RetireInvest has opened a new ... Advisers compete on 733 deals Mark my words podcast rebrand, China spat, new corporate finance deals, Jennifer Lawrence, the City Corporate finance deals Jan 13 to 19 2020 of the Future and our special ... A summary of the smaller deals from last week, which did not get included in our daily news coverage. ... Primewest defers spin-out IPO Macquarie Bank rent.com.au Lazarus Corporate Finance John Bond David Corporate finance deals Jan 13 to 19 2020 Schwartz Greg Bader ... Mark my words podcast Primewest defers spin-out IPO tenement battle, and our special report on corporate finance. ... DXN buys data centre for $2.7m Corporate finance deals Jan 1 to 10 2020 Corporate finance deals Feb 3 to 9 2019 A summary of the smaller deals from last week, which did not get included in our daily news coverage. ... Alicanto Minerals has exercised its option to acquire Zaffer Australian which owns the Oxberg and Naverberg Volcanogenic Massive Sulphide Projects within the highly endowed Cu-Au-Zn-Pb-Ag Bergslagen M ... Corporate finance deals Jan 1 to 10 2020

Corporate finance deals Feb 3 to 9 2019 Corporate finance deals Oct 14 to 20 2019 A summary of the smaller deals from last week, which did not get included in Tech stocks to raise $7.5m our daily news coverage. ... Capital Group rent.com.au Lazarus Corporate Finance Curtin University Uni - versity of Western Australia ... Corporate finance deals Oct 14 to 20 2019

Corporate finance deals Jan 27 to 31 2020 Corporate finance deals Oct 7 to 11 2019 A summary of the smaller deals from last week, which may not have been A summary of last week’s smaller deals that did not get included in our daily included in our daily news coverage. ... news coverage. ...

Corporate finance deals Jan 27 to 31 2020 Corporate finance deals Oct 7 to 11 2019

Corporate finance deals Jan 20 to 26 2020 Corporate finance deals Sep 30 to Oct 4 2019 A summary of the smaller deals from last week, which did not get included in A summary of the smaller deals from last week, which did not get included in our daily news coverage. ... our daily news coverage. ...

Corporate finance deals Jan 20 to 26 2020

businessnews.com.au