Daton Group Australia focused on fertiliser in China, admitted to the ASX
With the company objective focused on the Compound Fertiliser Project in China, Daton Group Australia (ASX: DTG) has been admitted to the ASX after offering an IPO of 36 million shares at $0.25 to raise A$9 million.
Daton currently produces coal based urea, methanol, and carbon dioxide in China, with the company's production facilities located in Jiaozuo City, in the Henan Province.
Importantly, the Henan Province is supported by a comprehensive network of railway lines and highways, with the company's facilities located near its major customers and suppliers.
Currently Daton's production capacity for urea is 150,000 tonnes annually, the fifth largest in Henan Province, and also has a production capacity of 30,000 tonnes of methanol and 30,000 tonnes of carbon dioxide each year.
Daton considers itself a technological leader in the industry, as it was the first company in the chemical fertiliser industry in the Henan Province to use recycling technology processes for carbon dioxide, sulphur and ammonia.
The company's main product is urea, which is the most commonly used nitrogen fertiliser in China, and accounted for over half of all revenue in 2009.
Daton will commence trading on the ASX at 10:45am EDST on Friday 7 January, with 25.2 million outstanding ordinary shares.
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