A cross-border team from global law firm Norton Rose Fulbright has advised energy company Renergen Limited on its capital raising and Australian Stock Exchange (ASX) listing, which commenced today.
Renergen, a prospective producer of helium and LNG, is listed on Johannesburg stock exchange AltX and has a market capitalisation of approximately $90 million. Its proven helium reserves position it to be one of the world's foremost producers of what is a finite and scarce commodity.
US government development finance institution Overseas Private Investment Corporation (OPIC) has committed $40 million of debt funding, which gives an indication of the strategic importance of Renergen's Virginia Gas Project to the US Government.
Norton Rose Fulbright represented Renergen on all corporate law aspects of its capital raise and secondary listing on the ASX, providing advice on both Australian and South African law. The firm prepared, reviewed and advised on registration as a foreign company in Australia; the prospectus for the offer; lodgement of the prospectus with corporate regulator the Australian Securities and Investments Commission (ASIC); liaison with ASIC; the ASX listing application and liaison with ASX; as well as various ancillary matters.
Norton Rose Fulbright partner Jeremy Wickens led the team from Melbourne, Australia, and commented:
"We're pleased to have been able to support Renergen from both Australia and South Africa in this important stage of its growth and development. Renergen will be the ASX's first helium company and has attracted substantial international interest, including from the US Government."
Along with Jeremy Wickens, the Australian team consisted of Melbourne-based associate Julia Sonza. The South African team consisted of Capetown-based corporate M&A director Lizel Oberholzer and associate Jarrett Whitehead.