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NEW TO GROWTHWIRE? Growthwire is an investment and corporate venturing intelligence service meeting the unique needs of growth and alternative fund managers, CEOs and other business leaders. |
| Headline |
Pleass Beverages and Packaging Raises US$1m |
| Investment Stage |
IPO Applications |
| Exchange |
South Pacific Stock Exchange (SPSE) |
| Sectors |
Food/Catering - Distribution
Food/Catering - Manufacturing & Processing
Food/Catering - Other
Food/Catering - Professional Services
Agriculture - Other |
| Deal Value |
1,000,000 |
| Currency |
USA - US$ |
| Country/Region |
Asia Pacific Fiji |
| Summary |
The South Pacific Stock Exchange (SPSE) is pleased to announce that Pleass Beverages Equipment Limited trading as Pleass Beverages and Packaging Limited (PBP) was successfully listed on the Main Board of the SPSE today 4th February 2009. A water bottling and packaging company, it is the 17th company on the SPSE trading board.
According to the Exchange Chief Executive Officer, Ms Jinita Prasad “it is not only a new listing at the Exchange but is a company that has given a new direction to our
developing market. Listing of PBP is somewhat a modification of a model of a company coming to market where an investment company, in this case Kontiki Growth Fund
Limited (KGF), has helped it come to a stage where listing was an ideal next step. Over the last few years the Exchange experienced a fairly quiet period but we remained
optimistic as the private equity investments such as PBP continued to transpire and eventually is listed on the stock exchange. More similar investment companies are
expected to follow suit”.
The company was established in 1996 with two major business segments of packaging and water. The Company has successfully raised $0.9 million through its Initial Public
Offering (IPO) that closed on 14th January 2009. Having an established distribution network for packaging and water, PBP also plans to move into wholesaling other fast moving consumer goods. Six million ordinary shares in PBP was quoted on the SPSE trading board.
The public offer, which was managed by Kontiki Stockbroking Limited, had a par value of $0.90 per ordinary share. After close of call session on its first day of trading, PBP
closed at $0.94, an increase of 4.4% from its par value of $0.90. Market Capitalization for PBP as at end of trading today stood at $5,640,000.
Should you require any further information on the issue, please do not hesitate to contact us.
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- INVESTORS are required to comply with the financial and money laundering regulations of the country in which the Growthwire Authorised Advisor posting this listing is domiciled.
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