ERA Delays Major $880M Entitlement Offer

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

Energy Resources of Australia Ltd. (ERA) has announced a postponement of its $880 million Entitlement Offer following a delay request approved by ASX, due to a Takeovers Panel application. The company’s fundraising efforts are on hold until the issues with the offer’s timetable are resolved, at which point ERA will provide updated information to the market. As a former major uranium producer, ERA is now focused on rehabilitating its closed Ranger Mine site, respecting the Aboriginal land where it is located.

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