Sharechat Logo

MTS Energy, agent for Sinopec lubricants, lists stock on Unlisted

Monday 10th September 2012

Text too small?

MTS Energy, an importer and distributor of automotive lubricants, has listed its shares on Unlisted, bringing total companies on the platform to 16.

The Auckland-based company has about 38.4 million fully paid shares on Unlisted, representing capital of $1.9 million, out of a total 74.8 million shares. The remaining 36 million need to be paid at 5 cents apiece. The stock didn't trade today.

MTS hasn't indicated it wants to raise more capital. It has 31 shareholders, predominantly Chinese.

The company began as a BP Petrol Station in the Katikati area and has been developing the market for lubricants since 2009, according to a statement. It acquired the lubricants business of ITrust Investment this year for $2.2 million including $500,000 of goodwill.

MTS is the New Zealand distributor for Chinese oil giant Sinopec China, it said.

In the year ended March 31, it recorded a profit of $17,094 on sales of $583,395. It had a $449,000 term loan with Westpac for 54 months and a 12-month loan from ITrust Investment of $587,279, its accounts show.

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Yili's Westland takeover gets OIO approval
Govt eyes 2025 for farm-level emissions pricing, tests interim steps
Govt won't "die in a ditch" for 100% renewable target
NZ 2Q CPI +0.6% on quarter, +1.7% on year
16th July 2019 Morning Report
Suspect company faces liquidation after director dies
NZ dollar holds gains; focus on domestic inflation data
MARKET CLOSE: NZ shares slip as fears over slowing Chinese growth weigh; AMP slumps
NZ dollar rises after heartening Chinese data
Suspect company faces liquidation after director dies

IRG See IRG research reports