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Brazilian Rare Earths spinoff Alurion gets maximum A$50m subscription in IPO

Bauxite in hand

Bauxite in hand

Photo by Bloomberg

22nd July 2026

By: Marleny Arnoldi

Online News Editor

     

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ASX-listed Brazilian Rare Earths' spinoff company Alurion Resources has successfully raised A$50-million with its initial public offering (IPO) on the ASX.

Demand for the IPO exceeded expectations, with Alurion having accepted applications for 47.6-million new fully paid ordinary shares at A$1.05 apiece.

Alurion directors and management subscribed for more than A$4.5-million worth of shares in the IPO.

Following completion of the IPO at the maximum subscription, Alurion has 243-million shares in issue, which implies an undiluted equity value of about A$256-million at the IPO offer price. 

Brazilian Rare Earths retains a strategic stake of 39-million Alurion shares, or about 16% of its issued share capital.

Admission of the company's shares is expected by July 30, with normal settlement trading expected to start on August 3 under the ticker 'ALU'.

Alurion is focused on developing the Amargosa bauxite and gallium project, in Brazil.

Having achieved the maximum subscription, Alurion now has a strong capital base from which to advance the project, including through an expanded and accelerated two-year programme.

Brazilian Rare Earths, meanwhile, remains on track to publish a scoping study on the Monte Alto rare earths project, in Brazil, during August.

Edited by Creamer Media Reporter

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