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NuEnergy Gas Limited ( (AU:NGY) ) has issued an announcement.
NuEnergy Gas Limited has announced a pro rata non-renounceable entitlement offer to raise approximately $4.62 million. This offer, partially underwritten by its major shareholder Global Energy Resources Sdn Bhd, allows eligible shareholders to subscribe for new shares, potentially increasing GER’s control depending on shareholder participation.
More about NuEnergy Gas Limited
NuEnergy Gas Limited operates in the energy sector, focusing on the exploration and development of unconventional gas resources. The company primarily targets coal bed methane (CBM) projects, with a market focus on enhancing energy supply in regions such as Australia and New Zealand.
YTD Price Performance: 55.56%
Average Trading Volume: 117,590
Technical Sentiment Signal: Hold
Current Market Cap: A$49.86M
Find detailed analytics on NGY stock on TipRanks’ Stock Analysis page.