<article>Singapore-listed oil exploration and production firm <a href="http://www.loyzenergy.com/" target="_blank">Loyz Energy Limited </a>said it plans to raise about S$13.6 million through share placement. The company plans to place just under 147 million new shares at 9.5 cents apiece to 12 parties.</article>

Singapore-listed oil exploration and production firm <a href="http://www.loyzenergy.com/" target="_blank">Loyz Energy Limited </a>said it plans to raise about S$13.6 million through share placement. The company plans to place just under 147 million new shares at 9.5 cents apiece to 12 parties.
The issue price of 9.5 cents represents a discount of approximately 6.5 per cent to the volume weighted average price 10.2 cents of per share based on trades done on Catalist on 19 March 2015, being the full market day on which shares are traded up to the date the placement agreement is signed, the company said in its communication to the exchange.
The 147 million new shares represent approximately 34.6 per cent and 25.7 per cent of the existing and enlarged issued and paid-up share capital of the company, respectively, its statement added.
The company said it plans to use the amount raised from the share sale to ‘improve its financial position as well as bolster its general corporate requirements.
“The estimated net proceeds from the placement are approximately S$13.6 million (after deducting expenses of approximately S$0.4 million). The company intends to allocate the entire net proceeds from the placement for its general corporate requirements,” it added.
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Loyz Energy said it plans to raise about S$13.6 million through share placement - it will place 147 million new shares at 9.5 cents apiece to 12 parties.

Loyz Energy to raise S$13.6m through share placement

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Loyz Energy to raise S$13.6m through share placement

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