Sino Gas & Energy Holdings Limited
(ASX:SEH) will undertake a capital raising of approximately $10.1 million before costs.
The raising will happen via a placement of 82.4 million fully paid ordinary shares valued at just over $0.12 cents each to two leading institutional investors.
Executive Chairman Gavin Harper says Sino is very pleased to bring on investors interested in the company’s progress with its Chinese gas projects and growth profile.
Settlement of the placement is expected to take place on January 3 next year.
Sino Gas reported a $3 million loss in the 2012 financial year.
