Geo Energy to raise $14.88m via share placement for working capital

The proposed placement price is $0.425 per share.

Geo Energy Resources Limited has entered a placement agreement with KGI Securities (Singapore) Pte Ltd for 35 million new shares at $0.425 per share, raising gross proceeds of approximately $14.88m.

The issue price represents a 4.49% discount to the volume weighted average price of $0.445 on 3 March 2026, according to an SGX filing.

Net proceeds are expected to total around $14.33m after $550,000 in commissions and expenses. The company intends to use the funds for working capital, whilst the board aims to broaden the shareholder base and adjust the group’s capital structure.

The 35 million shares account for 2.05% of the 1.708 billion shares in issue at the time of the announcement, and will represent 2.01% of the enlarged share capital of 1.743 billion shares, the filing stated.

The new shares rank pari passu with existing shares but will not carry rights to dividends with record dates on or before the completion date.

KGI Securities acts as placement agent on a best endeavours basis, earning a 2.9% commission, and the transaction is subject to approval from the Singapore Exchange Securities Trading Limited.

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