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Andatee China Marine Fuel (AMCF) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Andatee China Marine Fuel (AMCF) (NASDAQ:AMCF) produces, stores, distributes, and wholesale purchases and sales fuel oil for cargo and fishing ships. Its product is a substitute to the diesel fuel that is currently used throughout eastern China. Their operations are in China: Liaoning, Shandong, and Zhejiang provinces. [1]
The company's initial public offering (IPO) of stock was filed on 21 October 2009 and began trading on an exchange on 25 January 2010. With a proposed offer price of $6.00 - $8.00, the actual offer price was also $6.30. The company offered 3.1 million shares. [1]
For the nine months ended 30 September 2009, Andatee China Marine Fuel reported $85.3 million in total revenue, an increase of 31.4% from $64.9 million for the nine months ended 30 September 2008. The company had 4.71 million in net income, up 103% from a net income of 2.32 million for nine months ended 30 September 2008. Sales to the fishing boats represent about 70-80% of total revenue compared to sales to the cargo ships were 20-30% of total revenue. [1]
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