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IN BRIEF: Admiral Acquisition says costs offset by investment income

23rd Aug 2023 09:13

Admiral Acquisition Ltd - British Virgin Islands-based company, founded to pursue its objective of acquiring a target company or business - Says from December 15 to May 31, net income was USD411,000. Adds operating costs were USD248,000, offset by investment income totalling USD659,000. Also notes costs of its initial public offering admission in the five and a half months were USD10.5 million. This comes after the company announced in May it had raised USD550.0 million through the placing of shares priced at USD10.00 each, and a further USD10.5 million through the subscription of founder preferred shares.

Current stock price: USD9.40, trading flat on Wednesday

Change from May IPO: down 6.0% from USD10.00

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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