Looks like going public has started well for them.
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Australia's Little World Beverages Debuts Strongly on ASX
SYDNEY, Nov 11 Asia Pulse - Investor thirst for boutique beer gave Little World Beverages Ltd (ASX:LWB) a strong float onto the Australian Stock Exchange (ASX).
The parent company of West Australian Little Creatures Brewing hit the boards of the ASX at a 10 cent premium Thursday and got as high as $1.17 before settling at $1.15, 15 cents higher than its issue price.
Director Howard Cearns is one of a group of six friends who formed Little World in 2000 and set about making the flagship Little Creatures Pale Ale beer for their own consumption.
He said today the company was very pleased with the positive support they had received.
"Our next step is getting back into the brewery and doing what we do - its a busy time in the lead up to Christmas," Mr Cearns said.
Little World raised $A21 million ($US15.3 million) in its initial public offer to boost production capacity at its Fremantle brewery and to build a new WA brewery to meet longer-term requirements.
The brewer also hopes to increase its presence in the eastern states via broader sales representation.
The company reported a net profit of $2.38 million in 2004/05 and has forecast an increased profit of $2.63 million for 2005/06.
Who bought in ?
Doc
Australia's Little World Beverages Debuts Strongly on ASX
SYDNEY, Nov 11 Asia Pulse - Investor thirst for boutique beer gave Little World Beverages Ltd (ASX:LWB) a strong float onto the Australian Stock Exchange (ASX).
The parent company of West Australian Little Creatures Brewing hit the boards of the ASX at a 10 cent premium Thursday and got as high as $1.17 before settling at $1.15, 15 cents higher than its issue price.
Director Howard Cearns is one of a group of six friends who formed Little World in 2000 and set about making the flagship Little Creatures Pale Ale beer for their own consumption.
He said today the company was very pleased with the positive support they had received.
"Our next step is getting back into the brewery and doing what we do - its a busy time in the lead up to Christmas," Mr Cearns said.
Little World raised $A21 million ($US15.3 million) in its initial public offer to boost production capacity at its Fremantle brewery and to build a new WA brewery to meet longer-term requirements.
The brewer also hopes to increase its presence in the eastern states via broader sales representation.
The company reported a net profit of $2.38 million in 2004/05 and has forecast an increased profit of $2.63 million for 2005/06.
