Jade Gas Holdings Secures AU$12 Million Through Placement; Shares Up 5%

MT Newswires Live

Jun 05

Jade Gas Holdings (ASX:JGH) raised AU$12 million through a placement to sophisticated and professional investors, issuing 150 million shares at AU$0.08 per share, representing an over 11% premium to its 15-day volume-weighted average price, according to a Friday Australian bourse filing.

The proceeds will be used to advance commercial and strategic initiatives, progress project development milestones, fund offer-related costs, and support working capital requirements, the filing added.

The company's shares rose 5% in recent Friday trade.

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