The Conversation (0)
Gippsland Limited (ASX:GIP,FRA:GIX) reports an update on its non-Egyptian assets with a newly incorporated company, Adobha Resources Limited.
The press release is quoted as saying:
Adobha is proposing to conduct an initial public offering of fully paid ordinary shares to Gippsland shareholders of $4.0 million (and under certain circumstances may accept oversubscriptions of $1.0 million) (“IPO”) and to seek a listing on the Australian Securities Exchange (“ASX”). The IPO will be made by way of a prospectus when the Adobha shares are offered. Applications for Adobha shares must be made pursuant to the application form that will accompany the prospectus.