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Key Petroleum Limited ( (AU:KEY) ) has provided an announcement.
Key Petroleum Limited has completed a capital raising of AU$176,659.76 through a placement of 3,045,858 fully paid ordinary shares to sophisticated investors at an issue price of AU$0.058 per share. The shares will be issued under the company’s existing placement capacity and are expected to be allotted by 28 April 2026, subject to cleared funds.
Proceeds from the placement will be used to acquire assets with development potential, fund maintenance and development of existing assets, and provide additional working capital. The transaction is expected to strengthen Key Petroleum’s balance sheet and support its growth strategy by enabling further investment in its asset base and operational activities.
The most recent analyst rating on (AU:KEY) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Key Petroleum Limited stock, see the AU:KEY Stock Forecast page.
More about Key Petroleum Limited
Key Petroleum Limited is an Australian-listed energy company focused on the exploration, development and maintenance of petroleum assets. The company targets assets with development upside, seeking to enhance production potential and optimize the value of its existing portfolio within the domestic energy market.
Average Trading Volume: 10,101
Technical Sentiment Signal: Sell
Current Market Cap: A$2.13M
See more insights into KEY stock on TipRanks’ Stock Analysis page.