Montauk Renewables completes IPO and dual listing in United States and South Africa
Clients Montauk Renewables, Inc.
Jones Day represented Montauk Renewables, Inc. in connection with its domestic initial public offering of Common Stock with a U.S. primary listing (Nasdaq: MNTK) and South African secondary listing (JSE: MKR). Jones Day also counseled the former parent company of Montauk Renewables, Montauk Holdings Limited, a South African public corporation, through a series of reorganization transactions whereby Montauk Renewables became the owner of Montauk Holdings' assets and operations and Montauk Holdings shareholders became Montauk Renewables shareholders. Montauk Holdings also participated in the initial public offering as a selling stockholder. The offering priced at $8.50/share on January 21, 2021, giving Montauk Renewables an initial market capitalization of approximately $1.2 billion.
Montauk Renewables is a renewable energy company specializing in the recovery and processing of environmentally detrimental methane from landfills and other non-fossil fuel sources, including livestock farms, for beneficial use as a replacement to fossil fuels. As one of the largest producers of renewable natural gas, Montauk Renewables has 15 operating projects across six U.S. states.