CORPORATE NEWS:
Metals trader Wogen floats on AIM
Wogen, a London-based international trader in speciality metals and minerals, has flotated on the Alternative Investment Market (AIM) of the London Stock Exchange.
The flotation was undertaken as part of a plan for the orderly succession of ownership and management within the business.
The float was to achieve a broader ownership structure, give greater financial flexibility,
an enhanced corporate profile and provide an opportunity to further incentivise, attract and retain staff, said a corporate statement.
Wogen is a trader in speciality metals and minerals such as chromium, cobalt, indium, titanium, tungsten and vanadium, none of which are traded on exchanges.
It has its headquarters in London and satellite offices in China, Russia, Japan and Spain. The company is well positioned to benefit from growing global demand for hi-tech consumer and industrial goods that contain the metals in which it trades.
Wogen has built up a major operation in China, both in sourcing and distributing speciality metals and minerals.
It now has four Chinese offices – Hong Kong (opened in 1974), Beijing (1981), Shanghai (1984) and Guangzhou (1996).
The company has developed a domestic Chinese trading business based in Shanghai after recently receiving a licence to establish a Wholly Foreign Owned Enterprise (WFOE).
The WFOE permits Wogen to trade directly with local producers in their domestic currency, the Renminbi.
Company: |
Wogen Plc |
Country: |
UK |
Fax: |
+44 207 222 5862 |
Email: |
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Website: |
www.wogen.com |