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Northwest Investment Group Ltd

  • BY: Andrew Hore |
  • POSTED: 13/06/2010 |

Northwest Investment Group Ltd joined Aim on 9 June.

BVI-incorporated Northwest is a shell looking to acquire hydroelectricity projects in western China. Northwest has raised £3m - the minimum amount it can raise to obtain a quote as a shell - at 25p a share.

Northwest wants to buy two power projects with a capacity of around 200MW. Construction of the projects should be completed by 2012. The Chinese government supports investment in the hydroelectric sector.

The board includes executive chairman Zheng Kang, who is chairman of Plus-quoted China CDM Exchange Centre Ltd.

Li Xinyan bought most of the shares in the placing and he owns 72.2% of Northwest.

The share price fell to 22.5p by the end of the first week’s trading. Northwest is valued at £2.99m. 

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