Geo Energy Group (“Geo” or the “Company”) is offering 289,264,000 shares at $0.325 each. 3m shares will be via public offer and the balance 286.264m via private placement. 258.348m New Shares will be issued and the Vendors are selling 30.9m shares. The market cap will be $376m.
My initial preview is here and the final registered prospectus is here. The IPO will close on 17 Oct 2012 at 12pm and starts trading on 19 Oct 2012.
Geo is a coal mining group in Indonesia. Its main business will be to own and operate its own coal mines as well as offer contracting services to 3rd party mine owners. They sell the coal to coal traders and coal export companies.The mines are located in Kalimantan.
Pro Forma Financial Results

Revenue has been increasing “dramatically” from US$13.6m in FY2009 to US$69.2m in FY2011. The profit …