Vulcan Energy Strengthens Funding Base to Advance Lionheart Project
Vulcan Energy Resources Limited (ASX: VUL) has successfully completed the retail component of its pro rata accelerated non-renounceable entitlement offer, raising approximately €147 million (around AU$263 million). Strong participation from eligible retail shareholders resulted in applications for about 7.7 million new shares, with all oversubscription requests fully satisfied. The remaining shortfall shares were allocated to strategic partner HOCHTIEF Aktiengesellschaft, increasing its ownership in Vulcan to roughly 15.4%. In total, the broader equity raising, including institutional components, generated around €545 million (approximately AU$973 million). Proceeds from the capital raising, together with the wider Phase One financing package, are intended to fully fund the development, construction, commissioning, and start-up of the Lionheart Project through to initial cash flow. Given HOCHTIEF’s increased shareholding, the previously proposed conditional placement is no longer required, simplifying the capital structure ahead of Vulcan’s next phase of growth.
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Vulcan Energy Strengthens Funding Base to Advance Lionheart Project
Vulcan Energy Resources Limited (ASX: VUL) has successfully completed the retail component of its pro rata accelerated non-renounceable entitlement offer, raising approximately €147 million (around AU$263 million). Strong participation from eligible retail shareholders resulted in applications for about 7.7 million new shares, with all oversubscription requests fully satisfied. The remaining shortfall shares were allocated to strategic partner HOCHTIEF Aktiengesellschaft, increasing its ownership in Vulcan to roughly 15.4%. In total, the broader equity raising, including institutional components, generated around €545 million (approximately AU$973 million). Proceeds from the capital raising, together with the wider Phase One financing package, are intended to fully fund the development, construction, commissioning, and start-up of the Lionheart Project through to initial cash flow. Given HOCHTIEF’s increased shareholding, the previously proposed conditional placement is no longer required, simplifying the capital structure ahead of Vulcan’s next phase of growth.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au