Sacgasco Ltd (ASX:SGC) announced a $2.917m capital raise
Sacgasco Ltd (ASX:SGC) has announced that it has successfully placed 116,700,000 Common Shares to Sophisticated Investors to raise approximately $2.917 million before broker costs of approximately 5%.
The funds raised will be used primarily to accelerate the drilling preparations for 2022 in the Philippines by allowing Sacgasco, through its wholly owned Subsidiary Nido Petroleum Philippines, to award key contracts for drilling and production equipment for the two well drilling campaign it has planned at Nandino and Cadlao.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.
Shares of Sacgasco Ltd fell 3.45% following the announcement to $0.0.028/share.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
Similar stories
Which stocks are shooting up today?
After the first 20 minutes of trade, these are the stocks that are shooting higher
...read more
Currencies while you were sleeping
The Australian dollar was higher against the major currencies overnight. The Aussie dollar is buying
...read more
Crypto while you were sleeping
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read more
Drill down into today’s commodities
Today’s prices for the basket of key commodities tracked by Grafa are as follows: The
...read more
What to expect on the ASX today
ASX Futures trading higher ahead of the market open in Sydney. Dow Jones closed up
...read more
The cryptos making waves in the afternoon
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read more
The price we have to pay: Australian businesses reveal
48% of businesses say they will not raise prices, primarily due to the desire to
...read more
The biggest movers of the flyweight cryptos today
Of the micro cryptos, these ones were the movers. Mcashchain rose 338.90% to US$0.015, closing
...read more
The biggest movers of the featherweight cryptos today
Of the smaller cryptos, these ones were the movers. Mirrored iShares Gold Trust rose 353.48%
...read more
The biggest movers of the middleweight cryptos today
Of the middle-sized cryptos, these ones were the movers. Metacraft rose 66.39% to US$1.31, closing
...read moreSee more stories like this
