Amex opens $4m IPO

West Perth-based gold and copper explorer Amex Resources Ltd will open its initial public offer today, aiming to raise $4 million for exploration of its tenements. The company, which will offer 20 million shares at 20 cents each to raise the money, was recapitalised from laser and optical levels developer Kanowna Technology Ltd. After being re-named in April last year, Amex acquired 50.32 per cent of Teakdale Nominees Pty Ltd, and will acquire the remainder through the issue of 4.9 million shares.

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