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SMH: Papyrus listing PDF Print E-mail
Friday, 15 April 2005 22:02
The Papyrus float made the press, in a fairly ordinary, and a decidedly strange, story. Sydney Morning Herald (Apr 15)
Papyrus Australia Ltd made its debut on the Australian Stock Exchange on Friday on the back of a new process to make paper from banana plants. The stock was trading at 17 cents by 1330 AEST in a tough day for Australian equities, after earlier launching a $4 million initial public offer at 20 cents per share. Papyrus said its technology produces a fibre mat from the trunks of banana plants using no external water or chemicals and minimal energy. Funds from the raising will be used to build a full-scale, commercial manufacturing facility in north Queensland, close to extensive banana plantations, during the next two years to showcase the technology. "As the process should favourably compare both economically and environmentally with existing paper producers, the company believes that expressions of interest created from showcasing the technology will allow Papyrus to establish and formalise strategic alliances to fully exploit commercial opportunities with suitable partners," chairman David Wyatt said in the company's prospectus.
Pretty much the same story ran in Asia Pulse This one ... also from the Herald, was a little stranger
Yogi, our senior chartist, was excited by the prospect of a Papyrus Australia float this week. "You wouldn't read about it, Bone!" he said, reading about it. "It says here that Papyrus has the scientific know-how to convert banana plant fibre into raw paper or banana ply paper!" I nodded, although I couldn't see it myself. If it's so good, why didn't the ancient Egyptians choose banana skins to write on? Yogi read on: "The banana tree is an alternative fibre source and the company's technology converts a renewable agricultural waste product - the banana tree trunk - into raw paper." Well, you can imagine the withering sounds of approbation from our ethical investment consultant, Emeritus Professor Valerie Carr-Edwards. "Quite right, too - it's about time we turned to bananas!" she quipped. "The Kyoto Protocol explicitly states that banana-based writing paper should be adopted by the developed world forthwith!" "What about all these banana republics?" asked FastCash. "Are they supposed to use banana skins too?" "Of course not! One can't expect the poorer nations to adopt our standards of environmental protection!" "So you reckon a banana republic like, say, Equatorial Guinea should be allowed to write on bark for 100 years, say, before they switch to bananas?" Val threw up her hands and stormed out.