$8 million IPO for Coast’s latest ASX company
Written on the 1 December 2010
The Gold Coast will have its 19th ASX-listed company following the lodgment of a prospectus with ASIC for an $8 million initial public offer (IPO) by China Magnesium Corporation Limited (CMC).
CMC is in a race to raise the funds prior to a July 13 listing. The vertically integrated magnesium company will base its processing facility in the Shanxi province of northern China where the capital will be used to upgrade and expand the existing Pinyao Magnesium Project.