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88 Energy ( (AU:88E) ) has shared an announcement.
88 Energy has issued 173,602,563 fully paid ordinary shares to professional and sophisticated investors at A$0.029 per share under its 15% placement capacity in accordance with ASX Listing Rule 7.1. The placement, conducted without a disclosure document but under the continuous disclosure regime, expands the company’s equity base and may support future operational and exploration initiatives while maintaining compliance with corporate reporting and disclosure obligations.
The new shares are part of an existing quoted class on the ASX and may be subject to subsequent secondary market sales by investors. By confirming there is no excluded information under the Corporations Act and that it remains compliant with key reporting and disclosure provisions, 88 Energy seeks to provide assurance to shareholders and market participants regarding transparency and regulatory adherence around this capital raising.
The most recent analyst rating on (AU:88E) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on 88 Energy stock, see the AU:88E Stock Forecast page.
More about 88 Energy
88 Energy Ltd is an Australia-based energy company listed on the ASX, focused on exploration and development of oil and gas assets. The company regularly accesses equity capital markets to fund its operational and growth activities, targeting professional and sophisticated investors in line with Australian securities regulations.
YTD Price Performance: 18.18%
Average Trading Volume: 6,032,382
Technical Sentiment Signal: Sell
Current Market Cap: A$30.09M
For detailed information about 88E stock, go to TipRanks’ Stock Analysis page.