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The latest announcement is out from Key Petroleum Limited ( (AU:KEY) ).
Key Petroleum Limited has announced an updated pro-rata non-renounceable entitlement offer to raise approximately $312,225. The offer, initially underwritten, is now not underwritten due to unforeseen circumstances. Eligible shareholders will receive one new share for every five existing shares, with the offer open to shareholders in Australia, New Zealand, Hong Kong, and the United Kingdom. The funds raised will be used for asset acquisition, regulatory costs, working capital, and offer expenses. The offer includes a shortfall facility allowing shareholders to apply for additional shares, and the new shares will be quoted on the ASX.
More about Key Petroleum Limited
Key Petroleum Limited operates in the energy sector, focusing on the exploration and development of oil and gas assets. The company is listed on the Australian Securities Exchange (ASX) under the ticker KEY.
YTD Price Performance: -29.85%
Average Trading Volume: 23,825
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.18M
See more insights into KEY stock on TipRanks’ Stock Analysis page.