https://www.miningweekly.com
Gas|PROJECT
Gas|PROJECT
gas|project

Renergen bookbuild oversubscribed

7th February 2023

By: Creamer Media Reporter

     

Font size: - +

Helium and natural gas supplier Renergen reports that an accelerated bookbuild, launched on February 7 to raise funds for Phase 2 of its Virginia gas project, in the Free State, was "comfortably oversubscribed".

The company initially set out to place 4.6-million new shares, representing about 3.2% of the company's existing share capital, to qualifying South African investors.

At closing, Renergen had issued 12.88-million shares at R24 apiece.

The Virginia project’s Phase 2 was declared a strategic integrated project (SIP) by South African authorities in December.

As an SIP, the project will benefit from sped-up processes relating to any application for approval, authorisation, licence, permission or exemption, and processes relating to any consultation and participation required by the relevant laws must, as far as possible, run concurrently.

Timeframes for authorisations, licences, permissions and/or exemptions are reduced significantly towards a targeted 57-day timeframe for approval outside of timeframes stipulated for public consultation processes.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.203 0.242s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: