Envestra to raise capital for $240m plans GAS distributor Envestra has announced a capital raising towards its $240 million plans to expand infrastructure and deliver more gas. The company has launched a share offer at 99 cents per share, to be taken up between April 22 and May 15. Participation in the offer is open to all shareholders who were on the company's register on April 8. The company expects to spend $240 million upgrading old cast iron and steel mains and enhancing the capability of its networks. Shareholders can place offers in bundles of between $1,000 and $15,000. Envestra on Monday did not specify how much funds it hoped to gain through the capital raising. Envestra shares closed up 1.5 cents at $1.045.