88 Energy to raise funds via placing, shares dip By Investing.com
By Samuel Indyk Investing.com – 88 Energy (LON:88E) shares were trading lower on Tuesday after the company proposed to raise AUD 20 million (£10.6 million) via a placing of new ordinary shares of no par value at a price per placing share of AUD 0.028 (equivalent to 1.49 pence). The placing price is equivalent to a discount of 12.5% to the closing price of the company’s shares on the Australian Securities Exchange. The placing comes ahead of the planned appraisal of the Merlin-2 well, which is scheduled for drilling during the Alaskan winter drilling window in...
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