North Perth-based Doray Minerals has joined a growing list of WA companies planning to list on the ASX next month, with the launch of its $8 million initial public offer this week.
Doray aims to raise a minimum of $6 million through the issue of 30 million shares at 20 cents each, with oversubscriptions of $2 million accepted.
Shaw Stockbroking is the lead manager of the offer.
Doray holds a number of projects prospective for gold in the Murchison region of WA and the Central Grawler region in South Australia.
If the company raises $8 million, it said it would spend $4 million on exploration.
On the board are non-executive chairman Brett Fraser, managing director Allan Kelly, technical director Heath Hellewell and non-executive director Jay Stephenson.
Doray plans to list on the Australian Securities Exchange on December 18.
Other companies that plan to list on the same day include Talison Lithium, which today launched its $197 million IPO, Tusker Gold and NT Resources.
Meantime, Perth-based Shree Minerals will also open its IPO this week, which aims to raise up to $4 million, with a minimum subscription of $3 million set.
Up to 20 million shares will be issued with a 20c price tag for each share.
Shareholders in Sydney-based Gujarat NRE Minerals will be given priority offer. If oversubscription is reached, Gujarat will hold 17.65 per cent of the company while investment group China Alliance Holdings Group will have an 18.82 per cent interest.
Zurich Securities is lead manager to the offer.
Shree's flagship project is the Nelson Bay River magnetite iron project in Tasmania.
On the company board are chairman Sanjay Loyalka and non-executive directors Aran Jagatramka, Mahendra Pal and Andy Lau.
Shree plans to list on the ASX on January 8.