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Riedel debuts at a discount

WESTERN Australia-focused explorer Riedel Resources has had a low-key start to listed life, debuting at a 5% discount to its A20c issue price, following a $5.2 million initial public offering.

Kristie Batten
Riedel debuts at a discount

Shares closed at 19c on volume of just 86,000 shares. The company was spun out of oil and gas company ADX Energy, which retains a 42.9% stake. ADX chairman Ian Tchacos will also chair Riedel, with...

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