Trading start

Wah Lee Resources Holdings has announced that trading of its new shares will start on January 17.

The company's initial public offering, sponsored by Lippo Securities, will see the issue of 70 million new shares, or 25 per cent of the enlarged issued share capital, with the issue of one for every five warrants.

The shares will be priced at $1 each, or a price-earnings ratio of 6.76 on a fully diluted basis.