By Devika Patel
Knoxville, Tenn., Jan. 24 - Regal Petroleum plc said it will raise £84.66 million in a private placement of shares.
The company will sell 56.44 million shares at 150p each through broker Mirabaud Securities Ltd.
Proceeds will be used to fund the exploitation and development of the company's Ukrainian assets and to provide additional working capital.
Regal is a London-based oil and gas exploration and production company.
| Issuer: | Regal Petroleum plc
|
| Issue: | Shares
|
| Amount: | £84.66 million
|
| Shares: | 56.44 million
|
| Price: | 150p
|
| Warrants: | No
|
| Broker: | Mirabaud Securities Ltd.
|
| Pricing date: | Jan. 24
|
| Stock symbol: | London: RPT
|
| Stock price: | 147.5p at close Jan. 23
|
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