IDG backs LNGL's Magnolia plans

LIQUEFIED Natural Gas Limited has entered into a binding subscription agreement for a share placement of fully paid ordinary shares through an investment by Hong Kong stock exchange-listed IDG Energy Investment Group, which is affiliated with IDG Capital. 

IDG backs LNGL's Magnolia plans IDG backs LNGL's Magnolia plans IDG backs LNGL's Magnolia plans IDG backs LNGL's Magnolia plans IDG backs LNGL's Magnolia plans

IDG is backing LNGL's Magnolia LNG

Shareholder approval is not required. 
 
The placement will raise gross proceeds of A$28.2 million before costs and will issue 56.

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