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Date: Friday 04 Apr 2008

LONDON (ShareCast) - Qatar-based Panceltica, which is the holding company for a group of specialist fast track construction companies, started trading on London’s AIM this week.

The group, which focuses on the GCC region, raised pre-IPO funds of $115m and in conjunction with admission two of the founder directors have sold 10m ordinary shares in the company through a secondary placing priced at 100p per share.

“The business momentum currently being generated within the Gulf region will enable the group to implement its growth strategy,” said chief executive Paul Fraser.

“We look forward to continuing the successful growth of Panceltica as a public company and taking full advantage of the global opportunities provided by the group's fast track construction technology,” he added.

Phibro Animal Health raised $45m on AIM, giving the animal health and nutrition goods producer a market capitalisation of $345m.

After payment of transaction and other related costs, about $25m will be used to reduce amounts outstanding under the company's senior credit facility.

“The company is now positioned for the next stage in its strategy to be an even broader based animal health and nutrition business, through organic growth and acquisitions,” said chairman and president Jack Bendheim.

Phibro's main region of operation in terms of sales revenue is North America with manufacturing facilities located in Brazil, Israel and the United States.