Hi, Mast Developments ipo is ready for the 2nd March.
Those of you who might be unfamiliar with the company, its a spin off from kibo energy plc. It will be solely focusing on the reserve power market.
The offering has closed and was over subscribed.
Could it do what pineapple power did and leap up 3 x in the first few weeks ?
Dated: 05 February 2021
Mast Energy Developments Plc: IPO Update: MED Closes Book – Raising in Excess of £5m Kibo Energy PLC (‘Kibo’ or the ‘Company’), is delighted to announce, further to the RNS dated 28th January 2021, Mast Energy Developments Plc (MED) has raised in excess of £5m through Clear Capital Markets Ltd for its upcoming IPO on the Official List of the London Stock Exchange plc (“London Stock Exchange” or “LSE”) by way of a Standard Listing, which on listing will have a market capitalisation of c. £23 million. MED will now proceed with final submissions to the FCA and will revert in due course with the publication of the final prospectus which will include listing date details. Initial demand has exceeded expectations and the fundraise has now closed. This confirms Kibo’s belief that the UK clean energy sector is an exciting investment case going forward. We look forward to further updates from MED regarding existing projects being brought into production in the very near term, as well as any acquisitions of further projects, on their way to becoming a significant contributor to the growing reserve power market.