Geo Energy Resources Limited (RE4) said on Apr, 15 2026 that its private placement of 35 million new ordinary shares at 0.525 Singapore dollars each has been fully subscribed, generating gross proceeds of about 18.4 million Singapore dollars.

The majority of the shares were taken up by institutional funds and top-tier investors, including Asdew Acquisitions Pte Ltd, Ascend Open Master Fund VCC-ICH S F, Icham Master Fund VCC – Ploutus Fund III, and veteran investor Han Seng Juan. KGI Securities (Singapore) Pte. Ltd. acted as the placement agent.

Geo Energy Resources stated that the proceeds will strengthen its working capital, support the ramp-up of PT Triaryani coal operations, and provide flexibility for future expansion.

The company added that its market capitalisation exceeded 1 billion Singapore dollars based on the closing price of 0.615 Singapore dollars on Apr, 15 2026. Other recent milestones include nearly 90 percent completion of the MBJ Integrated Infrastructure project, binding term sheets for nine million tonnes per annum of haulage volume, and regulatory approvals supporting a 2026 coal production target of 11.5 to 12.5 million tonnes.