State Gas Ltd. (AU:GAS) has released an update.
State Gas Limited has announced the successful completion of the institutional component of its accelerated non-renounceable entitlement offer, raising approximately $3.0 million by allocating about 59.3 million new shares at $0.05 each. This follows a previously completed institutional placement that raised an additional $2.0 million, with the new shares issued to rank equally with the existing ordinary shares. Details of the offer and its timeline can be found in the prospectus dispatched to eligible shareholders.
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