News

IPO values NBPOL at £362m

17 December 2007 08:36:00

New Britain Palm Oil Limited (NBPOL) was valued at £362m when the Australasia-focused palm oil producer started trading on London's main market this morning.

The group has raised £62.5m gross of commissions and expensesof from the placing of 25m new shares at 250p each.

NBPOL will use the proceeds for the expansion of its facilities and infrastructure and said it has the potential to double its entire current plantation area within seven to eight years.

"There has been a great deal of interest from investors in New Britain Palm Oil Limited which has led to a very successful IPO and another important milestone for the company with a London Stock Exchange listing," said chief executive Nick Thompson

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