Aura Minerals’ R$87,3 Million Follow On Offering


Pinheiro Guimarães acted as counsel to Aura Minerals in its follow-on offering of Brazilian Depositary Receipts, while Pinheiro Neto Advogados acted as counsel to XP Investimentos, as undewriter.

The follow-on comprised a secondary offering of Brazilian Depositary Receipts of Aura Minerals Inc. held by Arias Resource Capital Fund LP, Arias Resource Capital Fund II (Mexico) LP, Arias Resource Capital Fund II LP and LF Ruffer Investment Funds – LF Ruffer Gold Fund representing approximately 2.5% of the company’s outstanding shares.

The price per BDR in the Secondary Offering is R$48.50 and the total gross proceeds to the selling shareholders amounted to R$87,300,000.00.

In the context of the Secondary Offering, the Shares owned by the Selling Shareholders were simultaneously offered in the secondary market in Canada, intermediated by a registered dealer in Canada.

Aura Minerals’ initial public offering of Brazilian Depositary Receipts was the first-ever IPO in Brazil with restricted selling efforts to institutional investors relying on Brazilian Securities Commission Instruction 476/2009. After the IPO, Aura Minerals became the first gold production company to be listed on the São Paulo Stock Exchange.

Aura Minerals Inc. is a mining company focused on the production of gold and copper on the American continent, and listed on the Toronto Stock Exchange.

Pinheiro Guimarães advised Aura Minerals Inc. with a team led by partners Ivie Moura Alves (Picture), Mariana Jost and Francisco José Pinheiro Guimarães and associates Lucas Manzoli and Mariana Bastos.

Pinheiro Neto Advogados advised the underwriter in Brazil with a team led by partner Guilherme Monteiro.

Involved fees earner: Mariana Jasmin Bastos – Pinheiro Guimarães; Mariana Jost – Pinheiro Guimarães; Lucas Manzoli de Almeida – Pinheiro Guimarães; Ivie Moura Alves – Pinheiro Guimarães; Francisco José Pinheiro Guimarães – Pinheiro Guimarães; Guilherme Sampaio Monteiro – Pinheiro Neto;

Law Firms: Pinheiro Guimarães; Pinheiro Neto;

Clients: Aura Minerals; XP Investimentos SA;

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Author: Ambrogio Visconti.