Sino raises A$53m to fund Chinese assets
PERTH (miningweekly.com) – ASX-listed Sino Gas & Energy would raise about A$53-million in a two-tranche placement to institutional and sophisticated investors.
Sino would place 265-million new ordinary shares, at an issue price of 20c each, with the funds raised used to progress the company’s forward programme of seismic surveys, drilling and development on its production-sharing contracts, and to provide working capital.
The first tranche would consist of about 189.6-million shares and would be issued under the company’s 15% placement capacity.
The second tranche, consisting of about 75.4-million shares, would be subject to shareholder approval.
“Sino Gas is delighted with the strong demand and support shown for the placement, both from new and existing institutional and sophisticated investors,” said MD and CEO Robert Bearden.
He noted that the company was in an exciting phase of development of its unconventional gas assets in China’s Ordos basin, and was focused on commercialising the assets and increasing shareholder value.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















