By Devika Patel
Knoxville, Tenn., May 5 - Norwegian Energy Co. ASA said in a press release that it took in NOK 214.4 million in a "substantially oversubscribed" private placement of shares.
The company sold 13.4 million shares at NOK 16.00 per share.
Pareto Securities AS, RS Platou Markets AS and SEB Enskilda AS were joint lead managers of the placement.
Proceeds will be used for exploration and general corporate purposes.
Based in Stavanger, Norway, Noreco is an oil and gas company.
| Issuer: | Norwegian Energy Co. ASA
|
| Issue: | Stock
|
| Amount: | NOK 214.4 million
|
| Shares: | 13.4 million
|
| Price: | NOK 16.00
|
| Warrants: | No
|
| Managers: | Pareto Securities AS, RS Platou Markets AS and SEB Enskilda AS
|
| Settlement date: | May 5
|
| Stock symbol: | Oslo: NOR
|
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