Green energy GPP Resources offers shares at 28c under IPO – TheStars
KUALA LUMPUR: Green-energy company GPP Resources Bhd is offering 15.60 million new shares at 28 sen each ahead of its listing on the Leading Entrepreneur Accelerator Platform Market of Bursa Malaysia Securities Berhad in September this year.
It said on Wednesday the 15.60 million new shares which would be offered to sophisticated investors would account for 10.06% of the enlarged share capital.
Based on the enlarged share capital of 155.12 million shares, it is expected to have a market capitalisation of RM43.43mil upon listing.
GPP and its subsidiaries’s core activities are related to biomass by using oil palm trunks to generate renewable energy.