CLIQ Energy

CLIQ Energy Bhd plans to raise at least RM210mn (USD50.0mn) through a rights issue, to address the potential shortfall between its trust account cash and payment of the initial USD90mn for its qualifying acquisition (QA) of a 51% stake in Phystech II Joint Stock Company. The proposed rights issue will also enable the group to finance its capital commitment of up to USD17.5mn (RM73.2mn) for development of the Karazhanbas Northern Oilfield (The Edge).