Genesis Energy (NZE:GNE, ASX:GNE) completed the NZ$100 million placement component, as part of NZ$400 million capital raise, according to a Tuesday filing with the New Zealand and Australian bourses.
The new shares are expected to settle Feb. 26 on the Australian Stock exchange and Feb. 27 on the New Zealand Stock Exchange, the filing said.
Shares of the company fell 4% in recent Tuesday trade in New Zealand.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.