Renergen has provided details of its planned listing on the Australian Stock Exchange (ASX). The replacement prospectus was published on 8 May with the company looking to raise A$5m gross at an offer price of $0.8 per CHESS depository interest (CDI). The closing date of the offer, which is only available to Australian and New Zealand residents, is 22 May 2019 with new CDIs expected to start trading on 31 May. Net proceeds are to be used to drill additional wells into proven gas reserves in the Virginia gas field project, operated by Renergen subsidiary Tetra4. In addition, the funds will be used to partially fund a feasibility study for the commercialisation of the high concentration helium reserves contained in the Virginia gas project's prospective sandstone deposit. Renergen's ASX listing will give it additional liquidity and access to capital to support expansion. We published an update note on Renergen in January 2019; our forecasts are now under review as we incorporate information within the ASX IPO prospectus.Den vollständigen Artikel lesen ...
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