New standard listing: Alteration Earth

Alteration Earth is seeking an acquisition in the clean technology or energy sectors. The plan is to do this within 24 months of admission and the deal would need to make the enlarged group worth a minimum of £30m.

There was a seed round and a subscription, so the average issue price is 7p. Pro forma net assets are 6.1p a share. The share price ended the first day of trading at 30p, but the bid offer spread was 10p/50p. According to there were 570 shares traded.

The lack of liquidity in the shares means that they are not an attractive investment for the time being.


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