- ReNu Energy (RNE) places its shares in a trading halt regarding an upcoming capital raising
- The company’s shares will remain in the halt until the earliest of December 6 or when more information is released
- On November 30, ReNu completed the second phase of its investment in Enosi Australia and now holds roughly 5.8 per cent
- This follows the company signing a subscription deal with the renewable energy tracer to advance its renewable and clean energy incubator-accelerator strategy
- Shares in ReNu last traded at 9.7 cents on December 1
ReNu Energy (RNE) has placed its shares in a trading halt regarding an upcoming capital raising.
The company’s shares will remain in the halt until the earlier of December 6 or when more information is released.
ReNu is yet to disclose how much it intends to raise or what it will use the funds for once received.
On November 30, ReNu completed the second phase of its investment in Enosi Australia and now holds roughly 5.8 per cent.
On September 10, ReNu penned a subscription deal with the renewable energy tracer to advance its renewable and clean energy incubator-accelerator strategy.
Enosi created Powertracer which is a solution that enables customers to trace their renewable energy mix 24/7.
ReNu has now invested $500,000 into Enosi in two equal tranches.
RNE last tapped investors for cash in June when it undertook a $1.46 million placement.
The funds were raised through the issue of more than 26.5 million new shares to professional and sophisticated investors at 5.5 cents.
Participants also received one attaching option for every two shares subscribed for, exercisable at seven cents with expiry on December 31, 2023.
The company used the money to progress its investment and acquisitions, as well as finalise discussions with renewable energy companies.
Shares in ReNu last traded at 9.7 cents on December 1. The company has a $12.87 million market cap.