NuEnergy Gas Limited (ASX: NGY) has announced a non-renounceable pro-rata entitlement offer to raise up to $4.62 million before transaction costs. NuEnergy is an independent clean energy company focused on the development of Indonesian unconventional gas assets. The offer aims to fund the company’s early gas sales initiative and progress the development of its Production Sharing Contracts (PSCs) in South Sumatra, Indonesia.
The entitlement offer will be available to eligible shareholders, providing them the opportunity to purchase two new shares for every nineteen shares held on the record date of Friday, 7 November 2025, at an issue price of $0.025 per share. The offer is partially underwritten to the value of $3.21 million by Global Energy Resources Sdn Bhd, the company’s major shareholder. The entitlement offer includes a shortfall share offer, enabling eligible shareholders who take up their full entitlement to apply for additional shares.
According to the announcement, NuEnergy plans to use the raised capital primarily to implement its Plan of Development for the Tanjung Enim PSC, complete exploration firm commitments for the Muara Enim II PSC, and fund appraisal activities and incidental costs for the Muralim and Muara Enim PSCs. A portion of the funds will also be allocated to working capital. The offer opens on Wednesday, 12 November 2025, and is scheduled to close at 5:00 pm Sydney time on Friday, 21 November 2025.
The company will release an offer document on Wednesday, 12 November 2025, providing full details of the entitlement offer. Eligible shareholders are encouraged to read the documentation carefully and seek independent financial advice. The Board of NGY encourages all eligible shareholders to participate in the Entitlement Offer.
