Dual listed natural gas and helium producer Renergen had stockbroker MST drumming up interest in a quick $10 million placement after market close on Tuesday.
MST was offering CDI at $2.14 each, a 10.1 per cent discount to the last close and 7.9 per cent less than the 30-day volume weighted average price. Bids were due 7pm.
The deal size was half of the $20 million that Renergen and MST mailed out term sheets for two weeks ago. That raise was at $2.17 a share and was iced.
Renergen is listed on the ASX with a $61 million market capitalisation, as well as on the Johannesburg Stock Exchange.
Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years’ experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at email@example.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at firstname.lastname@example.org
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