Geo Energy Resources Limited has announced the successful full subscription of its recent share placement, raising approximately S$18.4m. The placement involved 35 million new ordinary shares priced at S$0.525 each. The majority of these shares were taken up by prominent institutional funds and top-tier investors, including Asdew Acquisitions, ICH AM Funds, and Han Seng Juan.
The strong interest from these investors highlights their confidence in Geo Energy’s strategic direction and growth potential. The company’s market capitalisation has surpassed S$1b, with a closing share price of S$0.615 on 15 April 2026. KGI Securities (Singapore) Pte. Ltd. acted as the placement agent for this exercise.
Geo Energy plans to use the proceeds to bolster its financial position, enhance production capacities at its PT Triaryani operations, and explore expansion opportunities. The company has recently achieved significant milestones, including securing term sheets for haulage volumes and receiving approvals for coal production targets.
Executive Chairman and CEO Charles Antonny Melati expressed pride in the demand from reputable investors, stating, “This reflects their confidence in Geo Energy’s strategic direction, growth prospects, and ability to execute our plans.”
Looking forward, Geo Energy aims to continue scaling its operations and strengthening its market position as a leading energy and infrastructure group in Asia. The company is also set to complete the MBJ Integrated Infrastructure project and increase its coal production capabilities.
