Underwater ASX debut for Viking Ashanti

Osborne Park-based explorer Viking Ashanti has made an underwater debut on the local stock exchange with its share price closing 8 per cent below the issue price.

Shares in the Jack Gardner-chaired company today stayed below the 30 cent price tagged for each share in the initial public offer that raised $8 million.

Viking's shares opened at 28 cents before climbing to an intraday high of 28.5c. Shares then closed at 27.5c.

Viking's ASX listing comes as it finalises a deal to buy Resolute Mining's Ghanaian gold assets in return for a major shareholding of 33.25 per cent.

In its prospectus, Viking said it would spend $5.3 million on exploration programs over the next two years.