Pure Hydrogen Corporation Limited Registered Shs (AU:PH2) has released an update.
Pure Hydrogen Corporation is set to spin off its Australian gas assets into a new company, Eastern Gas Limited, which will be listed on the ASX. Eastern Gas plans to raise $8 million to $10 million through an IPO to fund its gas exploration and development projects in Queensland’s Cooper Basin and Walloon CSG fairway. This demerger aligns with Pure Hydrogen’s strategy to focus on hydrogen infrastructure and zero emission vehicles, while potentially unlocking additional value for shareholders.
For further insights into AU:PH2 stock, check out TipRanks’ Stock Analysis page.
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