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Genesis Energy Limited (ASX:GNE)

ALERT: Price-sensitive ASX Announcement for GNE
Current share price for GNE : $2.150 0.295 (15.90%)+
Announcement
Release
20 Mar 2026 8:57AM
Price at Release
$1.855
Full Release
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Summary
Genesis Energy Limited announced a trading halt for its securities starting on 20 March 2026, pending the release of an announcement related to its Shortfall Bookbuild. The trading halt, expected to last up to two trading days, is in support of a capital raising initiative intending to gather approximately NZ$400 million. This includes a NZ$100 million placement and a NZ$300 million pro rata renounceable rights offer. To ensure market fairness during the Shortfall Bookbuild process, the company deems the halt necessary. The process is underwritten by Jarden Securities Limited and Jarden Partners Limited, with the New Zealand Crown committing to a 51% shareholding following the completion of the placement and rights offer.
Key Points
  • Trading halt requested from 20 March 2026 until the announcement of the Shortfall Bookbuild completion or 24 March 2026.
  • Approximately NZ$400 million capital raising proposed by Genesis Energy Limited.
  • Crown committed to maintaining 51% shareholding post Placement and Rights Offer.
  • Jarden Securities Limited and Jarden Partners Limited underwriting the Placement and Rights Offer.
  • Trading halt necessary for fair and transparent market during Shortfall Bookbuild process.
  • The trading halt expected to last up to two trading days.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.