ABP had been effectively blocking the demerger which had sparked Jupiter Mines’s ire.
Business paper
Australian Financial Review reported on Thursday that one specific investor had sold a 13.8% stake in Jupiter for AUD84m (€54m). The paper concluded this investor was ABP as there was no other shareholder with such a large stake in the firm. ABP and APG – the fund’s asset manager – declined to comment on the matter.
Jupiter Mines’ newly established iron ore division, called Juno Minerals, also published an item concerning the transaction on its Linkedin page. “The departure of Stichting Pensioenfonds ABP from the Jupiter Mines register has positive implications for the Juno Minerals IPO, which is open now,” Juno Minerals said.
Big Jupiter Mines block crosses market; UBS handles trade
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Thereâs a big new shareholder coming for ASX-listed manganese miner Jupiter Mines.
Jupiter Mines chairman Brian Gilbertson and CEO Priyank Thapliyal at its ASX listing ceremony in 2018. Â
James Brickwood
A block of 270 million Jupiter Mines shares, or about 13.8 per cent of the company, crossed the market late on Wednesday afternoon for $84 million, in a trade that captured fundieâs attention.
Street Talk understands there was one buyer and one seller behind the transaction, which was handled by UBS and traded at 31¢ a share.
Finding the seller is easy.
17 March 2021 | 07:48am
StockMarketWire.com - Mining group Red Rock Resources noted that Jupiter Mines, of which it holds an under 1% stake, had announced a delay to May if the expected IPO of iron ore spin-out Juno Minerals.
Red Rock also said its Australian joint venture with Power Metal Resources had been awarded another two licences and was on track with its initial public offering. Jupiter had to alter its listing timetable for Juno due to a compliance issue with one overseas shareholder in relation to its obligations under the Foreign Acquisitions and Takeovers Act 1975 of Australia and its implementing regulations, chief executive Andrew Bell said
ABP goes head-to-head with Australian mining firm over demerger ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.