With its war chest further beefed up with a $28.5 million share placement in September 2021, GVT has gone on an acquisition spree, spending some $24.4 million to acquire two other companies with complementary capabilities as well as additional land adjacent to its existing facilities so that it can build up its capacity to take on more work for new customers.
From a quiet IPO in January 2019, precision manufacturing firm Grand Venture Technology (GVT) has gone from an IPO price of 27.5 cents to a closing price of 99 cents on Jan 24, marking an over three-fold increase in capital gains for investors who bought its IPO shares at the time of its listing.
The company had a quiet 2019 and 2020, with the share price not going far from its IPO price. However, things changed after an investment of almost $30 million by private equity fund Novo Tellus in January 2021.
