Nexus Energy to raise A$30 million from private placement of shares

By Laura Lutz

Des Moines, March 21 - Nexus Energy Ltd. plans to conduct a private placement of shares for about A$30 million.

The company plans to sell 36.84 million shares. The price per share was not announced.

Existing shareholders will also be offered a chance to purchase shares as part of a share purchase plan.

Proceeds will be used for drilling and working capital.

Deutsche Bank AG and Wilson HTM will act as joint lead managers.

Nexus is an oil and gas company based in Melbourne, Australia. Its stock closed unchanged at A$0.875 on Wednesday (Australia: NXS).

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