Coro Energy PLC - South East Asian energy company with a natural gas and clean energy portfolio - Launches a retail offer to raise up to £100,000 via the issue of 6.7 million shares at 1.5 pence each. The offer is expected to close on January 24.
This follows its launch on Thursday of a subscription to raise up to £2 million, for which it has already seen £1.9 million conditionally raised by investors.
The group is also proposing a share capital reorganisation, in which every 100 existing shares will be consolidated into one new share of 0.5p each and one deferred share of 9.5p each. This will reduce its issued shares to 28.7 million from 2.87 billion, conditional on shareholder approval at the general meeting scheduled for February 26.
Current stock price: 0.016 pence, down 6.9% in London on Friday afternoon
12-month change: down 93%
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