PERTH (miningweekly.com) – Gold miner Regis Resources has completed the retail component of its entitlement offer, raising some A$30-million.
The company said on Monday that it had received valid applications for some 20% of the 1-for-3.08 retail entitlement offer, with some 46-million shortfall shares to be allotted to the underwriter and sub-underwriter.
Some 57-million new shares would be issued under the retail entitlement offer, with the shares to start trading on the ASX on May 13.
The retail entitlement offer forms part of a greater A$650-million capital raise to partly fund Regis’ A$903-million buy of ASX-listed Independence Group’s (IGO’s) 30% interest in the Tropicana gold project, in Western Australia.