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1.IPO results

27 Oct 2016 (AFR) – CFOAM, supplier to Virgin Galactic, rockets on ASX debut

(27 October 2016, AFR, p24, by Simon Evans)

‘A company that makes a high-tech carbon material used by the United States Navy, aerospace firm Northrop Grumman and the commercial spaceflight arm of Sir Richard Branson’s Virgin Group soared on its ASX debut. CFOAM, which makes the high-strength carbon at a plant in West Virginia in the United States, raised $9 million in a float at an issue price of 20¢ per share. But on a day when the broader sharemarket tumbled, CFOAM jumped sharply. After opening at 60¢, it closed 250 per cent higher at 70¢.’

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