DLA Piper is advising mining exploration company Prospech Limited on its initial public offering (IPO) of up to AU$7.5 million. The indicative market capitalisation of the company on completion of the offer is expected to be around AU$19.6 million, based on the maximum subscription amount being raised.

The DLA Piper team is led by Head of Corporate James Philips, with assistance from solicitor Rube Uthayakumar.

James Philips said: "We are pleased to advise Prospech Limited on this IPO. Having established a strong local presence in a district in Slovakia steeped in mining history, this offering will enable our client to step up its exploration activities in its target areas."

Incorporated in 2014, Prospech is an Australian company focused on gold and silver exploration in Slovakia. 

The company owns 81 per cent, and has the right to acquire the remaining 19 per cent, of  highly prospective exploration licences in the Hodrusa-Hamre mining district, and the nearby Nova Bana goldfield of Slovakia.

Prospech is seeking admission to the official list of the ASX. The closing date for the offer is 21 July 2017.