New Issues Round Up
Indian focused investment firm KSK Emerging India Energy Fund said it plans to list on AIM and on the Channel Islands Stock Exchange in early June.
KEF will target investment in businesses that operate across the Indian power and energy sector value chain, including those involved in the development of infrastructure.
The Fund will seek to invest between $5m and $75m into each investment over a typical two to eight year life cycle, aiming to achieve an IRR in excess of 20% in each case.
"KEF's planned admission to AIM is a significant step in the evolution of KSK's fund management business within India's power and energy sector," said non-executive director Tanmay Das.
"With our business relationships and significant industrial expertise, we are confident of exposing the fund to a number of the future success stories in the sector, generating substantial returns for our shareholders along the way," Das added.
Yangtze China Investment, which invests in small and medium-sized growth businesses within the consumer sector in China, raised $25.4m when it started trading on AIM.
Upon admission, the group has acquired a portfolio of investments in three companies, IGO, Creative Picture and Onbest, for a consideration of about $9.39m.
Yangtze said it also has a pipeline of investment opportunities, with non-binding MOUs in place over a total investable amount of around $45m.
"We are pleased that the flotation has been completed successfully and are delighted with the support we have received from our new shareholders," said chairman Wilfred Wong.
"The subscription will enable us to proceed with several exciting investment opportunities that we are already evaluating," he added.
(Article continues below)Advertisement
Share plc, the parent company of independent stockbrokers The Share Centre, raised £1.08m on AIM and said it has seen encouraging demand despite difficult market conditions.
The group raised the money through a public offer of 4m subscription shares at a price of 27p each, valuing the company at about £43.2m. The subscription has been nearly four times over-subscribed.
"We are delighted to be bringing Share plc to AIM after 17 years of trading since The Share Centre was established. Today the business remains true to its founding vision of more people enjoying straightforward investing," said chairman Martin Jacomb.
"This commitment to personal investors is reflected in our decision to provide personal investors the opportunity to invest in Share plc through the offer for subscription, whose success represents a vote of confidence in the group from its customers," he added.
MDM Engineering Group, the minerals process and project management company, has raised £4.4m via a placing of 3.45m new shares with a range of institutional investors.
MDM's market capitalisation at the placing price of 145p is £54.3m.
"We are positive about the opportunity that exists in Africa's burgeoning natural resources industry and believe that an AIM listing and the proceeds of the Placing will significantly help to achieve our long term goals in an expanding market," said chief executive Grant Lowman.
"We are well positioned to execute on our growth strategy and are confident that MDM Engineering will emerge as a market leader in the mining services industry in Africa," he added.
MDM provides a wide range of services to the mining industry, from preliminary and final feasibility studies through to plant design, construction and commissioning.
