How to invest in the 29Metals IPO

29Metals is set to go public, here's what you need to know if you're looking to buy in.

What we know so far

Offer price: $2.00
Proposed code: 29M
Expected raise: $527.8 million
Expected listing: 25 June 2021
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Copper-focused mining company 29Metals is expected to list soon on the Australian Securities Exchange (ASX), which means that you'll have the option of buying shares. Here's what we know about the initial public offering, including how to invest before it lists and how to buy in when it launches.

29Metals is looking to raise $527.8 million at $2.00 a share. Although the dates and prices may change, at this stage the company is expected to list on the ASX on 25 June 2021.

How to invest in the 29Metals IPO

To invest in an IPO, you'll usually need to be registered with a participating broker or lead manager. This can be tricky for retail investors because there are usually only a few firms allocated for each IPO and they're typically full-service stockbrokers. In this case, the IPO is being lead managed by Macquarie Capital Limited, Credit Suisse Limited and Morgan Stanley Australia Securities Limited..

If you're already registered with a broker, it always pays to check if they're offering IPO stock, as lead managers sometimes allocate a portion of shares on to other firms. Your other option is to buy shares in 29Metals once it goes public. To do that, you'll need to be signed up to a share trading platform:

How to buy shares when 29Metals lists

  1. Compare share trading platforms. To buy shares in an Australian-listed company, you'll need to sign up to a broker with access to the Australian Securities Exchange (ASX). Our table below can help you choose.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, PayPal or debit card.
  3. Search for 29Metals. Find the share by name or ticker symbol: 29M. You can also search for any other shares traded publicly on exchanges available within your chosen platform.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until 29Metals reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. At price of at you're buying the shares, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs.
  6. Check in on your investment. Congratulations, you own a part of 29Metals. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

What we know about the 29Metals IPO

29Metals lodged its prospectus with the Australian Securities and Investments Commission (ASIC) to list on the ASX under the ticker symbol 29M.

Macquarie Capital Limited, Credit Suisse Limited and Morgan Stanley Australia Securities Limited. were appointed as lead managers with an expected raise of $527.8 million at $2.00 per share. You can check out some of the key dates and figures in the table below:


29Metals IPO key numbers
Offer price $2.00
Dividend yield 0%
Total number of shares available under the offer 263.9 million
Proposed ASX code ASX: 29M
Target market cap $960.9 million
Retail offer opens 15 June 2021
Retail offer closes 21 June 2021
Expected listing on ASX 25 June 2021
Expected dispatch of holding statements 29 June 2021
Source: 29Metals prospectus

According to latest information available, retail investors (regular investors) have between 15 June 2021 and 21 June 2021 to participate in the 29Metals IPO. After the retail offer close date, you'll need to wait until the stock is publicly available on the ASX to buy shares.

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The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.
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Balance sheet

In FY20, the company generated $434,451 million of revenue. Estimated net profit (NPAT) in FY20 was $83,694 million, and $126,152 million in the prior year.

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