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MetalNRG surges as it raises £267,932 in share placing

The newly issued shares will comprise around 16.55% of the company’s enlarged share capital when they are admitted to trading on 11 December

MetalNRG - MetalNRG surges as it raises £267,932 in share placing

MetalNRG PLC (LON:MNRG) has raised £267,932 through the placing of around 59.5mln new shares at a price of 0.45p each.

The placing price is a 13.5% discount to MetalNRG’s last close price on Tuesday of 0.52p, while the newly issued shares will comprise around 16.55% of the company’s enlarged share capital.

READ: MetalNRG to buy majority stake in Romania oil and gas company

The new shares are due to be admitted for trading on or around 11 December.

The news sent the shares surging 14.9% to 0.6p in late-afternoon trading on Wednesday.

Quick facts: MetalNRG

Price: 0.5011 GBX

LSE:MNRG
Market: LSE
Market Cap: £1.83 m
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