Genex Delivers for PrimaryMarkets’ Investors

December 06, 2016


By Scott McAllister

We are delighted that Genex Power Limited (ASX.GNX) has reached another milestone when it announced on 2nd December 2016 project finance approval for a facility of A$110M. This is in addition to recently announced Queensland Government offtake and Australian Government ARENA grant funding of A$8.85M.

PrimaryMarkets’ first foray into equity capital raising for an ASX listed Company was for Genex when PrimaryMarkets raised firm bids of A$925,000 from our Accredited and Professional Investors within 3.5 hours of going “live” on 9th June 2016.

PrimaryMarkets investors subscribed @ A$0.16 per share with Genex now trading as high as @ A$0.315 – an uplift of 96.8% for 6 months or annualised 193%