GTS priced its initial public offering on AIM at
The company is the largest Chinese producer of ammonium sulfite, a chemical which is a key element of the process of manufacturing paper from straw. GTS says sales of ammonium sulfite in
It added that the fundraising will be used to expand the company's production capacity of ammonium sulfite to enable it to meet contracted additional customer demand.
"I am delighted to be able to announce our admission to AIM today. Our IPO marks the start of the next major phase of development for GTS. It will enable us to broaden our investor base and assist in raising funds to expand our production facilities," Chief Executive
Savannah Petroleum began trading on AIM Friday and by midday was trading at
The company said the initial issuance of 52.3 million shares at
Savannah Petroleum said it plans to use the cash it raises to undertake a planned exploration programme, which includes the acquisition of full tensor gravity and significant seismic surveys over the R1/R2 PSC Area.
The primary Eocene oil exploration target at the R1/R2 PSC area has been estimated by consultants CGG Robertson to contain best estimate prospective resources of 573 million barrels, with 544 million barrels available to the company.
Earlier on Friday, Pressfit said it would initially issue 526,316 shares, bringing its total number of shares to 50.9 million and giving it an initial market capitalisation of
"It will support us in our continued ambition to provide high quality pressfittings at affordable prices for our customers in the water and gas industries around the world. We look forward to creating increased value for our shareholders as we begin life as a quoted company on AIM," Chui added.
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