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Tlou Energy raises money via placing shares to fund Lesedi project

October 06, 2023 at 02:46 pm IST

(Alliance News) - Tlou Energy Ltd on Friday said it raised money via placing shares to fund the development of its Lesedi project in Botswana.

The Botswana and Southern Africa-focused energy company raised AUD678,977, about GBP354,867, via placing 19.4 million shares at a price of AUD0.035 per share.

Tlou Energy funds the Lesedi project in Botswana with the funds. The company has a large gas field in the country and expects to complete the construction of a transmission line to connect the Lesedi gas project to the existing power grid to complete this year.

Tlou Energy shares rose 16% to 1.57 pence each on Friday morning in London, while they were 7.1% higher in Sydney at AUD0.030 each.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES AFRICA TITANS 50 INDEX	493.5 PTS	+2.12%	+2.65%	-
S&P AFRICA 40 INDEX	170 PTS	+1.57%	+3.26%	-
TLOU ENERGY LIMITED	0.036 AUD	-10.00%	-10.00%	3.06Cr

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