18th Jan 2016 10:53
LONDON (Alliance News) - Media investment vehicle Falcon Acquisitions Ltd was admitted to trading on the London Stock Exchange's main market Monday, whilst renewable energy company Green & Smart Holdings PLC announced plans to float on AIM.
Falcon Acquisitions will be targeting purchases in the mobile, online television and broadcasting sectors with a focus on 'over-the-top' content, meaning media content that is delivered via the internet. It plans to acquire controlling stakes, which it said will allow it to implement a strategy to generate "substantial value for shareholders."
Falcon Acquisitions said it had raised total proceeds of GBP1.7 million through a subscription for 16 million new shares at a price of 10 pence, on top of 4.4 million shares that it issued to its founder at a price of 8 pence each last March. The company's market capitalisation at the subscription price on admission is GBP2.04 million, it said.
It will also undertake a secondary fundraising to raise up to GBP2 million through the issue of up to 20 million shares at a price of between 10 pence and 30 pence.
Shares in Falcon Acquisitions were up 66% at 16.61 pence Monday morning.
Green & Smart Holdings is a renewable energy company that generates power from biogas captured through the treatment of the effluent produced by palm oil mills during processing. The company said it has been delivering waste water treatment for the rubber and palm oil industries over the past 30 years, and has more recently shifted focused to the palm oil industry due to the Malaysian government legislating that palm oil mills should treat the effluent.
Additionally, the government of Malaysia has published targets to increase the production of electricity from renewable energy sources like biogas power plants that convert waste produced by palm oil mills.
Green & Smart is positioning itself as an independent power producer by constructing, operating and owning biogas power plants.
The company believes its admission to AIM will enhance its credibility and profile and will give it financial flexibility to deliver its current projects and further develop its pipeline of opportunities. Net proceeds of is initial public offering will be used to fund the construction of two biogas power plants, to be owned and operated by the group alongside those currently being funded primarily through debt.
SP Angel is acting as Green & Smart's nominated adviser and broker.
"As worldwide demand for palm oil continues to rise, Green & Smart expects to benefit and to expand its market share in Malaysia through its attractive proposition to those operating in the palm oil industry," said Green & Smart Chief Executive Officer and Finance Director Sivadas Kumar in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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