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Perth-based ASX listings hit 700

THE number of Perth-based listed companies is expected to reach 700 by the weekend as Western Australia’s resources sector continues to drive the sharemarket boom. According to the Australian Securities Exchange, there will be about 145 more listed companies on June 30 than there were a year ago. Of those, 120 are Perth-based companies. On June 30 2006, there were 580 companies headquartered in WA that were listed on the ASX. The Australian Securities Exchange anticipates that there will be about 2,075 companies on its boards by June 30, up from 1,930 companies that were listed on June 30 2006. This week, Perth-based uranium explorer Atom Energy Ltd showed that the market’s appetite for junior players remains strong. The uranium explorer raced to a high of 64 cents on debut, delivering investors who bought 30 cent shares via its $10 million initial public offering a windfall of 113 per cent. Perth-based companies expected to hit the stockmarket boards by June 30 include Boss Energy Ltd, Central Asia Resources Ltd, Atomic Resources Ltd and London-listed copper, gold and uranium explorer Zambezi Resources Ltd, which closed its $15 million IPO offer more than three times oversubscribed last month.

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