Ramba Energy selling new shares and warrants to raise as much as $10.5 mil for general working capital

SINGAPORE (June 6): Ramba Energy is selling new shares and warrants to a new investor to raise as much as $10.5 million to increase its general working capital.

In a filing on Tuesday night, the oil and gas exploration and production company in Indonesia said it is placing out 32 million new shares at 9 cents each to Judah Value Activist Fund to raise some $2.9 million in cash.

Set up under the laws of the Cayman Islands, Judah Value is an investment fund managed by Swiss-Asia Financial Services, a US$2 billion fund management and financial advisory company that holds a capital markets services licence issued by the Monetary Authority of Singapore.

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