AUSTRALIA: Palandri confirms AIM plans
Palandri Wines has confirmed that it is looking to list on the London Stock Exchange's Alternative Investment Market. The Australian winemaker is hoping to list in early May.
Palandri plans to raise A$8m in a private placement before listing. The company would not reveal details regarding its intended valuation.
Press reports last month suggested that the AIM initiative is a response to a demand by National Australia Bank that Palandri repay it's A$9.2m debt by 30 June.
The decision to list is a departure from original capital raising plans set out in a prospectus released in December for a A$7.5m convertible note issue.
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