Bacchus Capital Marks First Anniversary with “Small Cap Deal of the Year” for IPO of Yellow Cake at the London Mines & Money Awards 2018
Bacchus Capital Advisers, the independent investment and merchant bank specialising in public market M&A, announces that the IPO of its uranium investment vehicle, Yellow Cake PLC, was awarded “Deal of the Year” in the prestigious London Mines & Money Awards 2018. Yellow Cake was created by Bacchus Capital to provide investors direct exposure to the anticipated structural improvement in the price of uranium, through the acquisition and storage of physical uranium in specialist facilities around the world.
Bacchus Capital believes that uranium is structurally underpriced: it established Yellow Cake to offer investors the opportunity to participate in the anticipated realignment as the spot market moves into potential deficit.
Bacchus Capital successfully negotiated a long-term partnership and purchasing contract with Kazatomprom, the world’s largest and lowest-cost producer of uranium, which itself has now listed on the London Stock Exchange.
The IPO of Yellow Cake was commended by the Mines & Money panel for its clear and compelling investment thesis, it’s simple and effective strategy and its strong performance subsequent to listing. Since its IPO in July, Yellow Cake’s share price has increased strongly by over 20% to stand at 244p today versus a listing price of 200p.
Bacchus Capital was established in mid-2017 by Peter Bacchus, former Global Head of Mining and Metals Investment Banking at Morgan Stanley, in order to bring traditional investment banking values of independence, objectivity and trust to an expanded client base, which includes some of the largest and leading companies in the natural resources sector, alongside some of the industry’s most interesting and innovative growth companies. His co-founders are Paul Cahill, former Group Head of Business Development at Anglo American plc; Chris Johannsen, previously a founder of Australian boutique advisory firm Gryphon Partners; and former Morgan Stanley banker, Richard Allan.
Peter Bacchus said: “This award is a fantastic endorsement of the thesis underlying the creation of Yellow Cake, and the highly effective execution of its IPO. Prior to the establishment of Yellow Cake, uranium as a commodity had limited market support and understanding, especially in the London market. This deal exemplifies our approach - Bacchus Capital is a team that finds creative answers to help build great companies. The past 18 months have been outstanding. We have a talented and growing team and look forward to 2019 with enthusiasm.”.