Nexus to Raise $30M in Placement

Nexus Energy Limited on Wednesday announced the launch of an institutional placement of 36.84 million shares, to raise approximately $30 million.

The institutional placement will be conducted by way of a bookbuild to institutional and other non-retail investors, both domestically and offshore.

Nexus also intends to offer eligible Australian or New Zealand registered shareholders the opportunity to subscribe for up to $5,000 worth of shares through a share purchase plan ("SPP"). Further details of the SPP will be mailed to shareholders following completion of the institutional placement.

The funds raised will be used to fund the completion of drilling at the Crux-2 Side Track-1 well and associated ongoing working capital requirements.

Deutsche Bank AG and Wilson HTM are acting as Joint Lead Managers to the capital raising.