An Australian nickel producer has completed one of the biggest IPOs on the ASX, officially entering the global nickel market.

Nickel Mines has raised A$200 million in an IPO, which values the company at around A$485 million.

The IPO is one of the largest offerings on the ASX in the last 12 months.

Nickel Mines is looking to become a globally significant, low-cost producer of Nickel Pig Iron which is a key ingredient for the production of stainless steel.

Its key asset is the Hengjaya Nickel Mine in Indonesia, which is a large tonnage, high grade saprolite deposit located in the Morowali Regency of Central Sulawesi.

Nickel Mines holds am 80% interest in PT Hengyaya Mineralinda (which subsequently holds 100% pf thee mine), with the remaining 20% owned by an Indonesian partner; the Wijoyo family.

http://www.miningnewspro.com/en/News/242996/Nickel Mines lists on ASX with $200 million IPO