RH Petrogas to place out 116m new shares at $0.63 each

That's a discount of 10.6%.

According to OSK, RH Petrogas planned to place out 116m new shares at the price of SGD0.63 each, representing a discount of 10.6% to the last traded price of SGD0.705.

The estimated net proceeds from the placement will be approximately SGD70.2m and the company intend to use 90% of this amount to fund its exploration and production activities in Salawati Basin and Salawati Island, while the remaining balance will be used for general working capital.

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