Yuma IPO to raise as much as $150 million

The Texas oil explorer and producer wants to list its shares on the ASX by December.

Yuma Energy Inc, the closely held Texas oil explorer and producer, plans to raise between $100 million and $150 million in an initial public offering.

The December IPO will consist of a sale of new shares and old shares held by existing shareholders, chief among them being Yuma’s founder Sam Banks, who established the Houston-based company 30 years ago and has a 64 per cent stake.

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