By Devika Patel
Knoxville, Tenn., June 8 - Rockhopper Exploration plc said it will raise £48.5 million in a private placement of shares.
The company will sell 17.32 million ordinary shares at 280p per share via underwriter Canaccord Genuity Ltd.
Proceeds will be used for drilling in the North Falkland basin and drilling a well on the Ernest prospect.
Based in Salisbury, England, Rockhopper is an oil and gas exploration company.
| Issuer: | Rockhopper Exploration plc
|
| Issue: | Ordinary shares
|
| Amount: | £48,496,000
|
| Shares: | 17.32 million
|
| Price: | 280p
|
| Warrants: | No
|
| Agent: | Canaccord Genuity Ltd.
|
| Pricing date: | June 8
|
| Stock symbol: | London: RKH
|
| Stock price: | 297.43p at close June 8
|
| Market capitalization: | £502 million
|
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