Helium Ventures is a shell seeking to acquire a business in the upstream natural gas sector, with a focus on helium.
The share price jumped to 16p (14p/18p) on the first day of trading. That values the company at £2.69m. There were nearly 1.3 million shares traded. There were 17 trades at prices between 14p and 17p.
The underlying value of Helium Ventures cash is 4.9p a share, so this is a significant premium to cash/NAV. Helium One Global (LON: HE1) has done well since joining AIM last year, but it already has a helium asset and is making good progress with exploration.
The Helium Ventures share price appears to have got ahead of itself and will probably drift lower over the next few weeks unless there is some firm news.
Helium Ventures (LON: HEV)