Pan Asia Metals launches $6 million IPO ahead of ASX listing

Pan Asia Metals Ltd (PAM) has launched its initial public offering (IPO) to raise A$6 million ahead of its listing on the Australian Securities Exchange (ASX).

The South East Asian-focused specialty metals exploration and development company is offering 30 million shares at an issue price of 20 cents per share.

Co-lead managers of the IPO are Baker Young and Maqro Capital. The Capital Network has been appointed to assist the company with its marketing and investor engagement.

IPO proceeds will be used for exploration and evaluation of the company's projects, IPO expenses and general working capital.*Preparing for drilling*

Pan Asia Metals is preparing a drilling program and making arrangements to mobilise drilling equipment from its 100%-owned Reung Kiet Lithium Project in southern Thailand to enable a planned drilling start at its 100%-owned Khao Soon Tungsten Project upon listing, if not before.

Its management has considered more than 25 project opportunities in South East Asia since 2013, with the best assets forming the foundations of the company in 2017.