What they do
MST Financial provides equity capital markets and corporate advisory services to small cap and emerging companies, alongside research, sales and trading and income products.
- Services
- Equity raisings, IPOs and listings, Takeovers and schemes, Sell-side M&A, Buy-side M&A, Management buy-outs, Debt advice
- Deal size
- Recorded deals: median A$25.9m, from A$3.5m to A$483m
- Clients
- Listed companies
- Licences
- AFSL 500557
- Founded
- 2017
From mstfinancial.com.au, checked 7 Nov 2026: /services/capital-markets, /services/advisory, /about
Deals
Columns
30 of 30 deals
| Advisers | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Nov 2026 | Neurizon Therapeutics | – | – | Placement | Joint lead manager and bookrunner | Announced | 4.3 | Biotech and pharmaceuticals | Morgans (lead manager) | Neurizon Therapeutics placement |
| Oct 2026 | L1 Global Long Short Fund | – | – | Entitlement offer | Joint lead manager | Completed | 482.7 | Listed investment vehicles | Canaccord Genuity (lead manager)E&P Capital (lead manager)Taylor Collison (lead manager)Ord Minnett (lead manager)Morgans (lead manager)Shaw and Partners (lead manager)CommSec (lead manager)Bell Potter (lead manager)National Australia Bank (lead manager)Allens (issuer) | L1 Global Long Short Fund entitlement offer |
| Jul 2026 | WAM Income Maximiser | – | – | Entitlement offer | Joint lead manager | Completed | 172.4 | Listed investment vehicles | Bell Potter (lead manager)Canaccord Genuity (lead manager)CommSec (lead manager)E&P Capital (lead manager)Morgans (lead manager)Ord Minnett (lead manager)Shaw and Partners (lead manager)Taylor Collison (lead manager) | WAM Income Maximiser entitlement offer |
| Jun 2026 | Forrestania Resources | – | – | Placement | Co-manager | Completed | 310.0 | Gold and silver | Bell Potter (lead manager)Aitken Mount Capital Partners (lead manager) | Forrestania Resources placement |
| Jun 2026 | Barton Gold Holdings | – | – | Placement | Lead manager and bookrunner | Completed | 25.9 | Gold and silver | Canaccord Genuity (lead manager) | Barton Gold Holdings placement |
| May 2026 | Jindalee Lithium | – | – | Placement | Financial adviser to the issuer; Joint lead manager | Completed | 11.0 | Lithium and battery metals | GBA Capital (lead manager)Red Cloud Securities (issuer) | Jindalee Lithium placement |
| May 2026 | Decidr AI Industries | – | – | Placement | Joint lead manager and bookrunner | Completed | 15.0 | Software | Morgans (lead manager) | Decidr AI Industries placement |
| Apr 2026 | Omega | – | – | Placement | Joint lead manager and bookrunner | Announced | 60.0 | Oil and gas | Bell Potter (lead manager) | Omega placement |
| Apr 2026 | Noble Helium | – | – | Placement | Lead manager | Completed | 12.0 | Oil and gas | Peak Asset Management (lead manager) | Noble Helium placement |
| Mar 2026 | Lumos Diagnostics Holdings | – | – | Placement | Joint lead manager and bookrunner | Completed | 20.0 | Medical devices and technology | Barrenjoey (lead manager)Foster Stockbroking (lead manager) | Lumos Diagnostics Holdings placement |
| Mar 2026 | Kapstream Investment Trust | – | – | IPO | Joint lead manager | Listed | 300.0 | Listed investment vehicles | CommSec (lead manager)E&P Capital (lead manager)Ord Minnett (lead manager)Taylor Collison (lead manager)Corrs Chambers Westgarth (issuer)EY (issuer) | Kapstream Investment Trust IPO |
| Mar 2026 | Weebit Nano | – | – | Placement | Joint lead manager and bookrunner and underwriter | Completed | 80.0 | Hardware and semiconductors | Macquarie Capital (lead manager)Unified Capital Partners (lead manager) | Weebit Nano placement |
| Mar 2026 | Oneview Healthcare | – | – | Placement | Lead manager and bookrunner | Completed | 19.0 | Medical devices and technology | Oneview Healthcare placement | |
| Jan 2026 | AnteoTech | – | – | Placement | Joint lead manager | Completed | 3.5 | Chemicals and fertilisers | Alpine Capital (lead manager) | AnteoTech placement |
| Oct 2025 | KGL Resources | – | – | Placement | Joint lead manager | Completed | 11.0 | Copper and base metals | amicaa (lead manager) | KGL Resources placement |
| Oct 2025 | Jindalee Lithium | – | – | Placement | Joint lead manager | Completed | 8.0 | Lithium and battery metals | GBA Capital (lead manager) | Jindalee Lithium placement |
| Oct 2025 | Pengana Global Private Credit Trust | – | – | Entitlement offer | Joint lead manager | Completed | – | Listed investment vehicles | Taylor Collison (lead manager)Morgans (lead manager)Shaw and Partners (lead manager)DLA Piper (issuer)EY (issuer) | Pengana Global Private Credit Trust entitlement offer |
| Sep 2025 | Omega | – | – | Placement | Joint lead manager and bookrunner | Announced | 46.0 | Oil and gas | Bell Potter (lead manager)Prenzler Group (lead manager) | Omega placement |
| Sep 2025 | Revolution Private Credit Income Trust | – | – | IPO | Joint lead manager | Listed | 400.0 | Listed investment vehicles | Morgans (lead manager)E&P Capital (lead manager)National Australia Bank (lead manager)Canaccord Genuity (lead manager)CommSec (lead manager)Wilsons Advisory (lead manager)Shaw and Partners (lead manager)Corrs Chambers Westgarth (issuer)Bell Gully (issuer)EY (issuer)Clayton Utz (lead manager) | Revolution Private Credit Income Trust IPO |
| Sep 2025 | 360 Capital Mortgage REIT | – | – | Entitlement offer | Joint lead manager | Completed | 45.2 | REITs and property funds | Ord Minnett (lead manager)Shaw and Partners (lead manager)Morgans (lead manager)Cowell Clarke (issuer) | 360 Capital Mortgage REIT entitlement offer |
| Sep 2025 | Rumble Resources | – | – | Placement | Joint lead manager | Completed | 9.0 | Copper and base metals | Wilsons Advisory (lead manager) | Rumble Resources placement |
| Aug 2025 | MA Credit Income Trust | – | – | Entitlement offer | Joint lead manager | Completed | 190.5 | Listed investment vehicles | Ord Minnett (lead manager)MA Moelis Australia (lead manager)Canaccord Genuity (lead manager)Shaw and Partners (lead manager)Taylor Collison (lead manager)Wilsons Advisory (lead manager)E&P Capital (lead manager) | MA Credit Income Trust entitlement offer |
| Aug 2025 | AVITA Medical | – | – | Placement | Lead manager | Completed | 24.0 | Medical devices and technology | AVITA Medical placement | |
| Jul 2025 | 360 Capital Mortgage REIT | – | – | Placement | Joint lead manager | Announced | 6.4 | REITs and property funds | Ord Minnett (lead manager)Shaw and Partners (lead manager) | 360 Capital Mortgage REIT placement |
| Jul 2025 | Vitasora Health | – | – | Placement | Joint lead manager | Completed | 11.0 | Medical devices and technology | Bell Potter (lead manager) | Vitasora Health placement |
| Jun 2025 | MA Credit Income Trust | – | – | Placement | Joint lead manager | Completed | 49.7 | Listed investment vehicles | Ord Minnett (lead manager)MA Moelis Australia (lead manager)Shaw and Partners (lead manager)Canaccord Genuity (lead manager) | MA Credit Income Trust placement |
| May 2025 | Aspen Group | – | – | Placement | Lead manager and bookrunner | Completed | 70.2 | REITs and property funds | Aitken Mount Capital Partners (lead manager) | Aspen Group placement |
| May 2025 | Enlitic | – | – | Placement | Co-manager | Completed | 10.0 | Medical devices and technology | Taylor Collison (lead manager) | Enlitic placement |
| Mar 2025 | Findi | – | – | Placement | Joint lead manager | Completed | 45.0 | Payments and fintech | Morgans (lead manager)Ord Minnett (lead manager) | Findi placement |
| Mar 2025 | MA Credit Income Trust | – | – | IPO | Joint lead manager | Listed | 330.0 | Listed investment vehicles | MA Moelis Australia (lead manager)Ord Minnett (lead manager)Shaw and Partners (lead manager)Canaccord Genuity (lead manager)Herbert Smith Freehills Kramer (issuer)Bell Gully (issuer)KPMG (issuer) | MA Credit Income Trust IPO |
Listed on their website
- ADX Energy Ltd Institutional Placement A$2,000,000 · 2026
- AnteoTech Ltd Sub-Underwrite A$7,500,000 · 2026
- Barton Gold Ltd Institutional Placement A$25,500,000 · 2026
- Decidr AI Industries Ltd Institutional Placement A$15,000,000 · 2026
- Jindalee Lithium Ltd Institutional Placement A$8,500,000 · 2026
- Noble Helium Limited Institutional Placement A$12,000,000 · 2026
- Omega Oil and Gas Limited Institutional Placement A$60,000,000 · 2026
- Kapstream Investment Trust Initial Public Offering A$205,000,000 · 2026
- Weebit Nano Ltd Institutional Placement A$80,000,000 · 2026
- Lumos Diagnostics Holdings Ltd Institutional Placement A$20,000,000 · 2026
- Oneview Healthcare Ltd Institutional Placement A$19,000,000 · 2026
- Anteotech Ltd Institutional Placement A$3,500,000 · 2026
- Stealth Group Holdings Ltd Institutional Placement A$19,500,000 · 2025
- Jindalee Lithium Ltd Institutional Placement & SPP A$9,000,000 · 2025
- Rumble Resources Limited Institutional Placement & Entitlement Offer A$9,000,000 · 2025
- Theta Gold Mines Limited Institutional Placement A$36,000,000 · 2025
- Orion Minerals Limited Institutional Placement A$8,600,000 · 2025
- OpenLearning Limited Institutional Placement A$2,600,000 · 2025
- KGL Resources Limited Institutional Placement A$10,000,000 · 2025
- Alterity Therapeutics Limited Institutional Placement A$20,000,000 · 2025
- Avita Medical Inc Institutional Placement A$23,000,000 · 2025
- Vitasora Health Limited Institutional Placement A$13,000,000 · 2025
- Aspen Group Limited Institutional Placement A$70,000,000 · 2025
Transactions the firm lists on its own website, checked 7 Nov 2026. Those FundComb has recorded link to the deal.
Activity
By announcement date; raisings and IPOs by their own date.
Headline tables where the firm reached the top ten, ranked as each table opens.
Sector of the business bought or funded.
Disclosed value in Australian dollars.
Repeat clients
- MA Credit Income Trust3 deals
- 360 Capital Mortgage REIT2 deals
- Jindalee Lithium2 deals
- Omega2 deals
League table positions
| Table | 2026 YTD | CY2025 |
|---|---|---|
| IPO lead managers | – | #8 (2) |
Rank as each table opens (by deal value, independent experts by number of reports), with the deal count in brackets. Top ten places shown.
Offices and contact
Contact
- Website
- mstfinancial.com.au ↗
- Phone
- +612 8999 9988
- Enquiries
- Contact page ↗
- Company page ↗
From the firm's own website.
Offices
- SydneyHead office Level 13, 14 Martin Place, NSW 2000 Office page ↗
- Melbourne Level 50, 120 Collins Street, VIC 3000 Office page ↗