(Alliance News) - Helix Exploration PLC on Thursday announced a scheduled admission date and expected market capitalisation for its planned initial public offering on the AIM market in London.
Helix Exploration is an exploration company focused on the commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome located in central Montana.
The scheduled admission date is set to be next week Tuesday, with an expected market capitalisation of GBP12.2 million. In March, the firm had announced that it planned to raise GBP7.5 million.
Around 12% of AIM securities will not be in public hands at admission.
Helix in March said it was aiming to commence scoping studies and test drilling in 2024, with plant construction and production drilling due to commence and complete in 2025, with a first gas target of the fourth quarter of 2025.
By Tom Budszus, Alliance News slot editor
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