Perth-based exploration firm Sunbird Energy’s shares will commence trading on the Australian Securities Exchange tomorrow, following the successful completion of a $9 million initial public offering last month.
Sunbird is focused on developing a suite of coalbed methane (CBM) projects in South Africa.
Managing director Will Barker said the strong response the IPO received was encouraging.
“The capital raised from the IPO will enable the company to add value to our five existing exploration projects in Southern Africa, in particular the Ermelo and Mopane projects in South Africa, with drilling programs due to commence in the first half of 2012,” Mr Barker said in a statement.
“Tomorrow is a significant milestone for Sunbird and a great step forward in our objective to become the leading CBM exploration and development company in southern Africa.”
Sunbird completed its IPO n December 19, issuing 45 million shares to raise the $9 million.