Herbert Smith Freehills advises miner MMG Limited on US$512 million rights issue

Leading global law firm Herbert Smith Freehills has advised mining group MMG Limited on a HK$3,968 million (US$512 million) rights issue.

The rights issue was 6.5 times oversubscribed.

MMG Limited is dual listed on the Australian and Hong Kong exchanges. It mines copper, zinc and other base metals projects across Australia, the Democratic Republic of the Congo, Laos and Peru.

The company's major shareholder is China Minmetals Corporation, one of China's major multinational state-owned enterprises.

Melbourne partner Tim McEwen and Hong Kong partner Matt Emsley led the team advising MMG Limited, assisted by associates Peter Moh in Melbourne and Jessica Leung and Clare Yim in Hong Kong.

"We are very pleased to have assisted MMG, a longstanding client, on its successful rights issue," said Matt.  "The popularity of the issue proves there is still strong funder appetite for well-diversified commodities operations."

"This is also a successful example of cross-office working, and the introduction of existing clients to new offices and expertise in our network," said Tim. "The Melbourne and Hong Kong teams worked together seamlessly on the transaction."