- Genex Power (GNX) has raised approximately $56 million through an institutional placement and institutional entitlement offer (IEO)
- The IEO is part of a $90.3 million equity raise
- Genex, through the placement, is set to issue more than 280 million new shares to institutional and sophisticated investors, priced at 20 cents each
- The issue price represents a 27 per cent discount to the five-day volume-weighted average price
- Meanwhile, the company slated to raise an additional $34.2 million through a retail entitlement offer
- The capital raised will funnelled into the construction of Genex’s flagship 250-megawatt Kidston Pumped Storage Hydro Project in North Queensland
Genex Power: Raises $56M as first stage of Hydro capital raise
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