Apollo Gold's lacklustre re-entrance to public life.

Australasian Business Intelligence, March, 2003

Mar 17, 2003 (The Australian Financial Markets Newsletter - INSTO - ABIX via COMTEX) -- Apollo Gold returned to the stock market on 10 March 2003 after completing its initial public offering (IPO). Apollo Gold, which previously operated as telecommunications company Focus Technologies, had raised $A5 million from the IPO. However, its shares, which had been issued at $A0.20 each, commenced trading at $A0.14 and fell to as low as $A0.10 before closing at $A0.135. They struggled for the remainder of the week, finishing at $A0.115 on 14 March 2003. Dudley Kingsnorth, the CEO and MD of Apollo Gold, said that most of the people to have sold their shares so far were those who had invested in Focus and who did not want to hold shares in a mining company. He said that the...

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