Gold explorer Megado jumps 30% in Australian market debut

Megado Minerals

27/10/2020 01:44

** Ethiopia-focused gold explorer Megado Gold  MEG.AX 
climbs 30% to A$0.26 in its debut on the Australian Stock
Exchange from an IPO price of A$0.20
    ** Megado's IPO raised A$6 mln ($4.28 mln) via issue of 30
mln shares, giving the firm a market valuation of A$17.6 mln
 urn:newsml:reuters.com:*:nASX96vtJc
    ** Perth-based explorer has six gold projects in Ethiopia,
five of which have been granted permits
    ** More than 2.7 mln shares change hands by afternoon 
    
 

($1 = 1.4023 Australian dollars)

 (Reporting by A K Pranav in Bengaluru)
 ((Pranav.AK@thomsonreuters.com; Twitter: https://twitter.com/AKPranav1))