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Hydrogen hopeful Gold Hydrogen has started trading on the ASX following an initial public offering (IPO) in which it raised A$20-million.

The company issued 40-million shares during its IPO, at an issue price of 50c each, with stocks trading at 51c a share on Friday. The company is trading under the ticker GHY.

Gold Hydrogen is focused on the discovery and development of hydrogen opportunities in South Australia and holds 75 332 km2 of tenements. The company holds one granted petroleum exploration licence and two of its fully owned subsidiaries hold a further seven applications for natural hydrogen exploration within South Australia.