By Laura Lutz
Des Moines, May 3 - Karoon Gas intends to raise A$41.8 million from a private placement of shares.
The company plans to sell 19 million new shares at A$2.20 each.
Talbot Group Holdings Pty/ Ltd. will subscribe for 12 million shares, and clients of E L and C Ballieu Stockbroking Ltd. subscribed for a total of 2.91 million.
Proceeds will be used for exploration and working capital.
Karoon is an energy company based in Mt Martha, Australia.
| Issuer: | Karoon Gas
|
| Issue: | Shares
|
| Amount: | A$41.8 million
|
| Shares: | 19 million
|
| Price: | A$2.20
|
| Warrants: | No
|
| Investors: | Talbot Group Holdings Pty. Ltd. (for 12 million shares), clients of E L and C Ballieu Stockbroking Ltd. (for 2.91 million shares)
|
| Pricing date: | May 3
|
| Stock symbol: | Australia: KAR
|
| Stock price: | A$2.29 at close May 3
|
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