Colver Technologies says it has no plans to go public despite the leak of a confidential document that appears to contain a timetable for an IPO
Colver Technologies has issued a categorical denial that it is in talks with bankers and legal counsel over a plan to have its shares listed on a public stock exchange for the very first time.
The Liaoning, China-based small-scale gas-to-liquids company last issued a denial of an impending initial public offering earlier this year but the new rumors appear to center on the leaking of a document to a local journalist said to contain details of a timetable by which the firm would try to raise capital on one of the mainland Chinese stock exchanges.
Gus Stuyvesant, COO at Colver Technologies says the contents of the document may have been misconstrued by the party or parties which leaked it.
Colver Technologies is a privately-owned corporation with backers and investors. Like any company, we need funding in order to conduct our business and, from time to time, we meet new prospective investors with a view to raising capital. All investors want to make a return on their investment so it’s only natural that they wish to discuss the various ways in which they might achieve those objectives. One of those is via a public listing of our shares on a recognized stock exchange,” he explained.
The latest rumors have piqued the interest of a number of brokers who, despite the recent moratorium on new IPOs on China’s main stock indices, are keen to line up prospects in anticipation of a return to normal market operations in the wake of financial market turbulence that saw investors suffer large losses.
Colver Technologies is not going public but we can’t stop people speculating. We would only hope that investors tread carefully and ignore the rumors,” concluded Stuyvesant.
About Colver Technologies
Colver Technologies’ modular GTL systems revolve around the Fischer-Tropsch reactor, a conversion technology developed in the 1920s by Franz Fischer and Hans Tropsche in Germany in 1925. It facilitates the production of significantly cleaner-burning liquid fuels like diesel and jet fuel from natural gas that contains no sulfur. We are committed to doing our part to drive uptake of GTL fuels as global efforts to reduce emissions increase and have invested heavily to ensure the continuing development of this highly attractive alternative to conventional energy production.
Contact Colver Technologies:
Longzhimeng Asia-Pacific Center
22 Pangjiang Street
Dadong, Shenyang, Liaoning