-- H2G Green (SGX:5AI) is targeting to raise over SG$3.6 million through the subscription of around 516.6 million shares at SG$0.00702 per share to several subscribers, according to a Monday filing with the Singapore Exchange.
The proposed placement is expected to strengthen the company's financial position and will provide capital for its liquefied natural gas business undertaken by its subsidiary, Gashubunited Utility.
Shares of the green energy company surged over 22% in Monday trading.