Invictus Energy Ltd (ASX:IVZ) Completes Oversubscribed Capital Raise
Successful Capital Raise
Invictus Energy Ltd has successfully completed Tranche 2 of its US$10 million capital raise. The placement concluded at AU$0.10 per share, with an additional US$2 million accepted in oversubscriptions due to strong investor demand.
Investor Engagement
The capital raise attracted considerable interest from both institutional and private investors. This reflects robust local support for the Cabora Bassa Project in Zimbabwe. Participants will receive new Zimbabwe Depository Receipts (ZDRs) on the Victoria Falls Stock Exchange (VFEX) to enhance local liquidity.
Comments from Management
Scott Macmillan, Managing Director of Invictus Energy, stated, “The completion of this strategic capital raise is testament to the strong investor confidence in our Cabora Bassa Project and its potential to drive transformative growth in Zimbabwe’s energy landscape.” He expressed gratitude for the overwhelming support received from investors.
Placement Details
Under the second tranche, Invictus will issue a total of 53,030,303 new shares. The raise, initially underwritten by the Mutapa Investment Fund, is pivotal in advancing the company’s exploratory and developmental efforts in the region.
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