The Brisbane-based company is seeking to raise at least A$5 million and up to $7.5 million via the issue of 25c shares.
Shaw and Partners is lead manager to the offer.
The offer is scheduled to close on November 29, which would see Macarthur list on the ASX before the end of 2019.
In connection with the offer, shareholders in Brisbane today approved a one-for-four share consolidation.
Macarthur tried to list subsidiary Macarthur Australia on the ASX in 2017, but pulled the offer due to weak market conditions. Since then, conditions in the iron ore sector have improved and earlier this year, the company signed a life-of-mine offtake deal with Glencore for its Lake Giles iron ore project in Western Australia's Yilgarn region.
The Swiss commodities giant has agreed to buy 4 million tonnes per annum of iron ore for the first 10 years of operation, with the option to extend for a further 10 years.
Lake Giles comprises the Moonshine magnetite project and Ularring hematite project.
Moonshine has an indicated and inferred resource of 1.31 billion tonnes at 30.1% iron, but metallurgical work suggests that can be upgraded to 68.5-69.1% iron, while Ularring has an indicated resource of 54.46Mt at 47.2% iron and an inferred resource of 26Mt at 45.4% iron, with an earlier prefeasibility study focusing on producing a 60.1% iron sinter fines product.
In July, the company closed a US$6 million private placement to advance work on Lake Giles, where C$60 million has already been spent.
Macarthur expects to list with a fully diluted market capitalisation of A$36.3-38.8 million.