Ols Looks To $14m Cash Boost
The Age
Monday December 18, 1995
The Australian-listed construction and fit-out company OLS Asia Holdings said yesterday it expected an immediate cash boost of $14 million, following its listing this weekend on the National Association of Securities Dealers Automated Quotation System in the US.
OLS shares will start trading today with the symbols ``OLSAY" and ``OLSWY" for its newly issued American depositary shares and warrants.
OLS Asia shares are already listed on the Australian Stock Exchange. ``OLS is poised for substantial expansion of its contracting and fit-out operations in Hong Kong and mainland China, and is also examining the possibility of expansion in Australia in 1996," OLS Asia's chairman, Mr Alfred Siu, said.
He said OLS planned to use the immediate proceeds of the US capital-raising to expand business through vertical and horizontal integration with associated companies that the company planned to purchase.
The Hong Kong-based company expected its US listing to enable it to raise $28 million more in the next three years.
© 1995 The Age