Ramba Energy raising S$15m via placement

Singapore

TO finance the exploration and production activities of its Indonesian oil and gas business, Singapore-listed Ramba Energy is placing out 37.5 million new ordinary shares at S$0.40 each to raise nearly S$15 million, the company announced on Monday.

Following approval obtained at the company's annual general meeting on April 28, 2014, Ramba Energy on Sunday entered into a share-purchase agreement with its placees, including Zymmetry Investments.