https://www.engineeringnews.co.za

Renergen bookbuild oversubscribed

7th February 2023

By: Creamer Media Reporter

     

Font size: - +

Helium and natural gas supplier Renergen reports that an accelerated bookbuild, launched on February 7 to raise funds for Phase 2 of its Virginia gas project, in the Free State, was "comfortably oversubscribed".

The company initially set out to place 4.6-million new shares, representing about 3.2% of the company's existing share capital, to qualifying South African investors.

At closing, Renergen had issued 12.88-million shares at R24 apiece.

The Virginia project’s Phase 2 was declared a strategic integrated project (SIP) by South African authorities in December.

As an SIP, the project will benefit from sped-up processes relating to any application for approval, authorisation, licence, permission or exemption, and processes relating to any consultation and participation required by the relevant laws must, as far as possible, run concurrently.

Timeframes for authorisations, licences, permissions and/or exemptions are reduced significantly towards a targeted 57-day timeframe for approval outside of timeframes stipulated for public consultation processes.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.049 1.051s - 122pq - 2rq
Subscribe Now