global iron - cap raising

Global Iron raises $222m ahead of NSX listing
The West Australian June 23, 2010, 1:02 pm

Global Iron says it has raised $222 million ahead of its National Stock Exchange listing.

The Tony Sage-led company said its offer was extremely well supported by prominent international funds and institutions resulting in firm commitments totalling $221,995,100.

Global Iron said it had received in-principle approval to list on the NSX but would not issue shares until it received formal conditional approval to list and its proposed acquisition of assets controlled by Frank Timis' African Petroleum Corporation had settled.

The company's ASX listed shares are suspended having last traded at 47 cents.

The suspension follows the ASX's decision to block Global Iron and sister company International Petroleum from backdoor listing Mr Timis' assets and appointing him a director of the companies.

The ASX appeals tribunal has since overturned the decision which may clear to way for the two companies to rejoin the boards of the ASX.
Meanwhile International Petroleum today advised it had begun trading on the NSX today.
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http://au.news.yahoo.com/thewest/business/a/-/wa/7448027/global-iron-raises-222m-ahead-of-nsx-listing/