By Devika Patel
Knoxville, Tenn., June 26 - Roc Oil Co. Ltd. said it will raise approximately A$68.8 million in a private placement of shares.
The company will sell approximately 88 million ordinary shares at A$0.78 per share.
The deal will be fully underwritten by Morgan Stanley Australia Securities Ltd.
Settlement is expected July 2.
Proceeds will be used for development projects and to strengthen the company's financial position.
Based in Sydney, Australia, Roc is an oil and natural gas exploration company.
| Issuer: | Roc Oil Co. Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$68.8 million (approximate)
|
| Shares: | 88 million (approximate)
|
| Price: | A$0.78
|
| Warrants: | No
|
| Underwriter: | Morgan Stanley Australia Securities Ltd.
|
| Pricing date: | June 26
|
| Settlement date: | July 2
|
| Stock symbol: | Australia: ROC
|
| Stock price: | A$0.90 at close June 26
|
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