White Energy (ASX:WEC) opened its 2-for-3 renounceable pro-rata entitlement offer for eligible shareholders as of March 3, according to a Thursday filing with the Australian bourse.

The offer has an issue price of AU$0.034 per share, to raise roughly AU$4.5 million, a separate filing showed.

The offer will close on March 20 unless extended, the filing said.