Listed drilling services and gas exploration business AJ Lucas was asking investors for $19.7 million via a share placement on Wednesday morning.AJ Lucas’ Cuadrilla’s shuttered fracking site at Preston New Road, near Blackpool. SuppliedIt was offering shares at 11¢ each, a 27 per cent discount to the last close.AJ Lucas planned to use the proceeds for its UK operation to respond to regulatory changes, expenditure on plant and equipment and for working capital.Canaccord Genuity was the lead manager and Foster Stockbroking was the co-manager.Bids were due 5pm Wednesday for Asia Pacific investors and 6pm Wednesday for rest of the world.AJ Lucas had a $185.4 million market capitalisation before the raising.
AJL Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
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