By Devika Patel
Knoxville, Tenn., April 28 - Norwegian Energy Co. announced it completed a NOK 450 million private placement of shares. The deal was announced for between NOK 300 million and NOK 450 million April 25.
The company sold 19.15 million shares at NOK 23.50 per share.
Pareto Securities AS and Glitnir Securities AS were joint lead managers in the substantially over-subscribed transaction.
Proceeds will be used to finance the company's acquisition of Talisman Oil Denmark Ltd.
Based in Stavanger, Norway, Noreco is an oil and gas company.
| Issuer: | Norwegian Energy Co.
|
| Issue: | Stock
|
| Amount: | NOK 450 million
|
| Shares: | 19,149,000
|
| Price: | NOK 23.50
|
| Warrants: | No
|
| Managers: | Pareto Securities AS, Glitnir Securities AS
|
| Announcement date: | April 25
|
| Settlement date: | April 28
|
| Stock symbol: | Oslo: NOR
|
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