Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
An announcement from Baron Oil ( (GB:SNDA) ) is now available.
Sunda Energy plc announced the successful result of its WRAP Retail Offer, which was significantly oversubscribed, demonstrating strong support from both existing and new investors. The company raised £470,000 through the offer and plans to issue 1,880,000,000 new Ordinary Shares and 940,000,000 warrants. Despite increasing the offer size, demand exceeded the available allocation, leading to scaled-back applications. The company has conditionally raised a total of £710,000, including a £240,000 subscription from directors and senior management, pending shareholder approval. This development underscores investor confidence in Sunda Energy’s market positioning and growth potential in the Southeast Asian gas sector.
More about Baron Oil
Sunda Energy plc is an AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia.
Average Trading Volume: 84,287,920
Technical Sentiment Signal: Sell
Current Market Cap: £8.93M
Find detailed analytics on SNDA stock on TipRanks’ Stock Analysis page.