Nickel Asia to list shares in Nov

ABS-CBN News

Posted at Oct 22 2010 06:35 PM | Updated as of Oct 23 2010 02:36 AM

MANILA, Philippines - Zamora-led Nickel Asia Corp. is planning to list its shares under the first board of the Philippine Stock Exchange (PSE) next month.

Nickel Asia aims to raise as much as P8 billion from the initial public offering (IPO) of between 198 million to 304.5 million common shares. It has set aside up to 45.6 million more shares for over-allotment.

The offer period will be from November 9 to 16, while listing date has been set on November 22.

Nickel Asia will also be conducting an international roadshow next week.

The mining firm's planned IPO already obtained green light from both the PSE and the Securities Exchange Commission.

Proceeds will be used for exploration and acquisitions, and for investments in a mine project in Surigao del Norte.