Ncondezi raises £750 000

Aim-listed Ncondezi Energy has raised £750 000, before expenses, through an oversubscribed placing of 15-million ordinary shares at a price of 5p a share. The company will use the funds raised by the placing to cover nonproject corporate costs until the end of August 2018, before the maturity of the shareholder loan, as well as to secure the company's position as it finalises the exclusivity arrangement with its proposed partner.