Terms are out for Eastern Australia gas hopeful Vintage Energy's planned initial public offering.
The company is seeking to raise $50 million at 20¢ a share via stockbrokers RBC Capital Markets and Taylor Collison.
The offer values Vintage Energy at $72.8 million on a market capitalisation basis and would see the company list on the ASX on September 6, if successful.
It is understood Vintage Energy started meeting fund managers for the IPO on Monday.
Its brokers will seek to rule off the raising at a bookbuild on July 31, according to terms sent to potential investors.
Vintage Energy was set up in November 2015 to focus on opportunities arising from the emerging energy and gas crisis in eastern Australia, the company told investors. It is run by former Beach Energy executives Reg Nelson and Neil Gibbins. Nelson lines up as chairman and Gibbins as managing director.
The company has interests in three sedimentary basins comprising of six permits, it told potential investors.
