Kina Petroleum boosts coffers

MARKETS have seemed more choppy than Jackie Chan of late but Kina Petroleum has quickly raised $A8 million through a recent placement and is lining up a share purchase plan to raise another $1.5 million.
Kina Petroleum boosts coffers Kina Petroleum boosts coffers Kina Petroleum boosts coffers Kina Petroleum boosts coffers Kina Petroleum boosts coffers

The recent capital raising was based on issuing 22.86 million ordinary KP shares at 35c each. The PNG explorer said there was strong demand from existing and new investors, including domestic and international institutional investors.

The SPP is also based on issuing ordinary KP shares at 35c each, but only to existing shareholders.

The funds will help fuel more exploration on Kina's acreage in PNG.

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