IPO Update - RENERGEN IPO OVERSUBSCRIBED AND APPOINTMENT OF DIRECTOR (29/5/2019)
- Emerging producer of liquid helium and liquefied natural gas, Renergen Limited (Renergen or theCompany) will commence trading on the Australian Securities Exchange under the ASX Code: RLT.
- Already listed on Johannesburg’s AltX exchange (under code: REN) Renergen, in its secondary listing,raised twice the minimum subscription, closing at $10 million with oversubscriptions.
- Renergen provides investors with exposure to both natural gas and helium through its proven reservesand existing off-take agreements.
- Renergen possesses the first and only onshore petroleum production right in South Africa.
- Funds raised under the offer are to be used for further exploration and expansion of the Virginia GasProject, which contains a significant natural gas resource and one of the richest helium concentrationsglobally.
- Dr David King joins Renergen’s Board on Tuesday, 4 June 2019 as an independent, non-executivedirector.
Full document available here - https://www.renergen.co.za/wp-content/uploads/2019/05/ASX-SENS-Announcement-29-May-19.pdf
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