UK biodiesel fuel firm D1 raises 13 mln stg in IPO
Date: 22-Oct-04
Country: UK
D1 said it had sold 8.1 million new shares at 160 pence apiece. Its shares are expected to list on London's junior AIM market on Oct. 29, valuing the company at 34.4 million pounds.
D1, formed in 2002, said it aims to become a global, low cost producer of biodiesel and a supplier of crude vegetable oil used in the production of biodiesel.
Biodiesel is a renewable fuel that can be used as an alternative or addition to petroleum diesel, but which D1 said is better for the environment as it reduces carbon emissions.
D1 said last month it had aimed to raise up to 20 million pounds in the initial public offering.
Bell Lawrie White is adviser and broker for the offer.
