Tietto lists on the ASX

WEST African gold explorer Tietto Minerals has made a strong start to listed life today following a A$6 million initial public offering.

Tietto lists on the ASX Tietto lists on the ASX Tietto lists on the ASX Tietto lists on the ASX Tietto lists on the ASX

Shares closed this afternoon at 24.5c, a 22.5% premium to the 20c issue price in the IPO.

The stock rose as high as 31c during the session, with just under one million shares traded.

Blackwood Capital was lead manager to the IPO, which comprised the issue of 30 million shares to take total shares on issue to 193.1 million.

Tietto said the IPO attracted strong interest from institutional and high net worth investors, including two unnamed global resources funds.

The Perth-based company has been around since 2010 and has been funded by a group of high net worth individuals since then.

Its two biggest shareholders are Lanzhou Oceania Investment Group ...