ERA Cleared to Proceed With $880M Share Offer

Energy Resources of Australia Ltd. Class A (AU:ERA) has released an update.

Energy Resources of Australia Ltd. (ERA) has announced that the Takeovers Panel has declined to intervene in the matter of their Entitlement Offer, allowing ERA to proceed with its plans to raise approximately $880 million through a renounceable share offering. This development follows a failed Review Application by two shareholders, Zentree Investments Limited and Packer & Co Ltd. The company is preparing to announce a revised timetable for the offering shortly.

For further insights into AU:ERA stock, check out TipRanks’ Stock Analysis page.