Southern Alliance Mining files for IPO of 76 million shares at 25 cents each

Amala Balakrishner
Amala Balakrishner6/16/2020 8:20 PM GMT+08  • 4 min read
Southern Alliance Mining files for IPO of 76 million shares at 25 cents each
Iron-ore producer Southern Alliance Mining (SAM) launched its Initial Public Offering (IPO) on the Catalist Board of the Singapore Exchange on Tuesday
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SINGAPORE (June 16): Iron-ore producer Southern Alliance Mining (SAM) launched its Initial Public Offering (IPO) on the Catalist Board of the Singapore Exchange on Tuesday.

Based out of Pahang, Malaysia, the company specialises in the production of high-grade iron ores and steel products as well as pipe coating materials for oil & gas operators.

Under the IPO, SAM will place 76 million shares at 25 cents each. Of these, 56 million shares are new while the remaining 20 million will be held by vendors. Collectively, the move is expected raise $19.0 million in gross proceeds.

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