Does any one know about CYCAL : China Yunnan Copper Australia IPO. It already got fully subscribed reportedly by FN Area whereas scheduled close 19 Oct. Issue is small $0.4M. Supposed to list by 16 November.
This company has made JV with SIPA Gold and Newmont and going to be a front investment vehicle of Yunnan Copper INdustry Group the third largest copper producer in China. www.cycal.com.au
Lot of free (0.001 Cent) options given to the promoters and issue is fully underwritten by MP Securities who are in a box seat with 5% commission and 2,000,000 options as reported in prospectus.
This will probably be first of its kind by a Chinese investment company .
Please share your thoughts and any research done.