GasHub to list on ASX via reverse takeover of Raffles Capital

Singapore

HOMEGROWN gas piping and energy services specialist GasHub announced on Wednesday that it will list on the Australian Securities Exchange (ASX) via a reverse takeover of Australian-listed Raffles Capital Limited. The company aims to raise up to A$10 million (S$10.4 million) to support its innovations in energy solutions to grow its operations in Singapore and the Asia-Pacific.

Under the terms of the agreement, Raffles will acquire all securities in GasHub. Raffles will issue 150 million new Raffles shares to GasHub group shareholders, valuing the company at A$30 million, and 50 million shares to the public at the issue price of A$0.20 per share. The public offer will open on July 13 and close on Aug 11.