Ramba Energy to place out 43.6m shares to raise $22.8m

Ramba Energy says it is placing out 43.6 million shares or 18% of its enlarged share base to raise $22.8 million for exploration and development of its oil & gas operations in Indonesia. The placement shares are priced at 54 cents apiece, a 7.5% discount to the weighted average price of 58.4 cents for trades done on April 13.