ReNu Energy Limited ( (AU:RNE) ) has shared an update.
ReNu Energy Limited is undergoing a significant transformation, as indicated by its prospectus for a capital raising offer. The company plans to raise between $8 million and $10 million through the issuance of new shares, with the aim of re-quoting its shares on the ASX following a change in the nature and scale of its activities due to a proposed acquisition. This move includes a 200:1 consolidation of existing shares and is part of a broader strategy to comply with ASX listing rules. The prospectus outlines various offers, including those to target shareholders, advisors, directors, and existing loan noteholders, which are contingent on certain conditions being met.
More about ReNu Energy Limited
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.1M
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