NuEnergy Gas Announces Massive Securities Issue

NuEnergy Gas Limited (AU:NGY) has released an update.

NuEnergy Gas Limited has announced a proposal to issue a whopping 408,539,447 new fully paid ordinary shares under a standard pro rata arrangement, which may be either renounceable or non-renounceable. The key dates include an ex-date of August 29, 2024, a record date of August 30, 2024, with the offer closing on September 12, 2024, and the issue date set for September 16, 2024. This move aims to infuse new capital into the company, potentially stirring investor interest in the energy sector’s financial markets.

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