raisama ipo, page-6

Raisama makes premium ASX debut.

2-December-09 by Rebecca Lawson
www.wabusinessnews.com.au

West Perth-based uranium outfit Raisama has made a premium debut on the Australian Securities Exchange today with its share price closing at 51 per cent above its issue price.

The David Berrie-led company had raised $12.25 million in its oversubscribed initial public offer, with shares priced at 35 cents.

Shares in the company today opened at 50c and closed at 53c, given the Raisama a market capitalisation of $27.7 million. Nearly 3.4 million shares were traded today.

In a statement today, Mr Berrie said funds from the IPO will be used to advance the company's uranium projects in Australia and the Kyrgyz Republic.

"The enthusiasm investors have shown today for Raisama and the uranium sector underscores the urgent need to develop credible alternatives to fossil fuel based energy," Mr Berrie said.

Meantime, Subiaco-based companies Winchester Resources and Dourado Resources made their debut on the ASX yesterday.

Shares in Dourado yesterday closed slightly below its 20c issue price at 19.5c and today closed at 20.5c. Shares in Winchester closed at 20.5c yesterday, moderately higher than its 20c issue price, and today closed at 22c.