Yuma Energy IPO to raise up to $140m

The Texas oil explorer and producer plans to set a price for its shares on November 25 and list on the ASX on December 13.

Yuma Energy Inc, the Texas oil explorer and producer, plans to raise between $110 million and $140 million in an initial public offering.

Houston-based Yuma, currently 65 per cent owned by founder and chief executive Sam Banks, plans to sell $85 million worth of new shares and between $25 million to $55 million of existing shares.

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