Finder Energy (ASX:FDR) raised AU$21 million through the issue of 42 million shares at AU$0.50 apiece under tranche one of the placement disclosed on April 30, according to a Friday filing with the Australian bourse.
A total of 12 million shares will be issued under tranche two, subject to shareholder approval, the filing said.
Proceeds will be used to accelerate the KTJ project in offshore Timor-Leste toward first oil production, an earlier filing showed.
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