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Company Overview
Finder Energy Holdings Limited, founded in 2004, is an oil and gas exploration company based in Perth, Western Australia. The company has a significant acreage portfolio in Northwest Shelf (NWS), a region abundantly rich in hydrocarbons in Australia.
Initial Public Offering
The company had launched its IPO on the Australian Securities Exchange under the ticker FDR and had raised AU$ 15 million with 20-cent shares. We had covered this IPO in our ‘Kalkine IPO Report’ on March 10, 2022 and had assigned this IPO with a “Neutral” rating given the relatively weak financial health of the company, volatility in the oil markets, and relatively smaller size of the company.
Daily Price Chart (as on May 05, 2022). Source: REFINITIV, Analysis by Kalkine Group
Conclusion
Investors who have invested into this IPO can consider ‘Exiting’ from their position at the closing price of AU$ 0.23 as on May 05, 2022, given:
*The reference data in this report has been partly sourced from Refinitiv
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