Argonaut has been successful in the Placement of A$53 million (before issue costs) for Sino Gas & Energy Holdings Limited (ASX: SEH) (“Sino Gas”) via a two tranche Placement of 265 million new ordinary shares at an issue price of A$0.20 per share, together with joint lead manager, Euroz Securities. Argonaut congratulates Sino Gas on raising $53m. This is a tremendous milestone for the Company.
Commenting on the Placement, Managing Director and CEO Mr Robert Bearden said, “Sino Gas is delighted with the strong demand and support shown for the Placement, from both new and existing institutional and sophisticated investors. Sino Gas is in an exciting phase of development of its unconventional gas assets in China’s Ordos Basin and is very focused on commercialising the assets and increasing shareholder value”.
Sino Gas has significantly added value to its Chinese PSCs over the past two years. Argonaut is delighted to be involved Sino Gas and looks towards the relationship continuing as Linxing and Sanjaiobei are advanced to full field commercialisation.
Additional information regarding the Company and the Placement can be found on the company’s website at www.sinogasenergy .com.
