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Eneco Energy aims to raise $15.7 mil via placement

The Edge Singapore
The Edge Singapore3/27/2022 04:11 PM GMT+08  • 2 min read
Eneco Energy aims to raise $15.7 mil via placement
As Ramba Energy, the company’s focus was focused on oil exploration. As Eneco Energy, its new focus is in logistics.
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Eneco Energy, which used to be called Ramba Energy, plans to raise some $15.7 million in net proceeds to pay debt and fund new growth.

Under the proposed placement, the company plans to issue up to 1.66 billion new shares at 0.9 cents each and up to 1.66 billion detachable, transferrable warrants at 0.1 cents each.

The placement price of the new shares is a discount of 66% off the company’s volume-weighted average price of 2.65 cents on Feb 28, which was the last market day before trading suspension was called.

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