The flurry of activity in the growing biofuels sector continues apace with Perth-based Mission Biofuels Ltd closing its initial public offer early, and another local player Jupiter Energy announcing plans to raise $5.5 million. Biodiesel company Mission Biofuels will raise $27 million through its offer to progress plans to construct a 100,000 tonne per annum biodiesel plant in Malaysia, using crude palm oil as its primary feedstock. Strong institutional investor interest resulted in the offer being significantly oversubscribed, and sees it close today, well ahead of the scheduled closing date of May 4. Australian Stock Exchange listed-Jupiter Energy recently also announced capital raising plans, in two tranches, to raise $5.5 million to develop its own biodiesel plant.
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