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New Zealand Oil & Gas will place 8.2 million shares and options with investors to make up a $6 million shortfall in its latest capital raising exercise.
The NZX-listed company said this week it had raised $17.4 million in a renounceable rights issue to fund the development of its Kupe oil and gas prospect.
The combined issue price for each share and option is $1.00. The rights issue includes a share option - the right to buy a share for $1.50 before June 30 next year.
