Malagasy seeks $10m in IPO

West Perth-based nickel, copper and coal exploration company Malagasy Minerals is seeking to raise $10 million ahead of its plans to list on the Australian Securities Exchange on 30 June.

The initial public offering involves 50 million shares at 20 cents each. Board members include chairman Max Cozijn, managing director Steven Goertz and non-executive directors, Guy LeClezio and Peter Woods.

Malagasy has identified several minerals projects on the island of Madagascar, off the east coast of Africa.