Verdant Earth Technologies (formerly Hunter Energy) recently featured by Mergermarket, is considering an initial public offering at home or potentially in the US.
'Verdant Earth Technologies is considering an initial public offering at home or potentially in the US', the Australian renewable energy developer's Chief Executive Officer (CEO), Richard Poole, said.
Meanwhile, Verdant Earth Technologies expected to close its launched AUD 2m (USD 1.6m) pre-IPO private placement by Friday 26 February but the placement has closed early oversubscribed.
Barclay Pearce Capital, acting as Lead Manager to Verdant Earth Technologies (formerly Hunter Energy) on its $2M Pre-IPO raise via a private placement of ordinary shares with attaching options.
"Verdant Technologies aims to be a major hydrogen producer on the East Coast of Australia, plans to go public in the first half of 2021. We have been approached by an American investment bank for a potential US listing."
Richard Poole, Chief Executive Officer
The company is selling 12.5m shares, at AUD 0.16 each, to professional and sophisticated investors via a private placement. Funds raised is reported to be used, among other purposes, to accelerate critical preparatory work and to complete a pre-feasibility study (PFS) into the development of the Monarch Hydrogen asset.
Richard continues by mentioning Verdant Earth Technologies' plans regarding the Monarch Hydrogen project construction:
"The Monarch Hydrogen project construction is expected to cost EUR 22m (AUD 34m). The facility is projected to be capable of generating AUD 20m in revenue, and AUD 4m-AUD 5m in earnings before interest, tax, depreciation and amortisation, based on the initial 6.5 tonnes per day output."
Read the full Mergermarket article here.
To keep up to date with what's happening with Verdant and the green technology industry as a whole, subscribe to the Verdant Chairman’s List.
