By Devika Patel
Knoxville, Tenn., Nov. 30 - Faroe Petroleum plc said it will raise £45 million in a private placement of shares.
The company will sell 30,612,245 ordinary shares at 147p apiece.
Panmure Gordon and Tristone Capital will be joint brokers for the deal.
Proceeds will be used for drilling, development, exploration and growth.
Based in Aberdeen, Scotland, Faroe Petroleum is an independent oil and gas company focused on exploration in the Atlantic Margin, the North Sea and Norway.
| Issuer: | Faroe Petroleum plc
|
| Issue: | Ordinary shares
|
| Amount: | £45 million
|
| Shares: | 30,612,245
|
| Price: | 147p
|
| Brokers: | Panmure Gordon, Tristone Capital
|
| Pricing date: | Nov. 30
|
| Stock symbol: | London: FPM
|
| Stock price: | 150.5p at close Nov. 29
|
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