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Bahamas Petroleum Raises Almost GBP7 Million Through Open Offer

Mon, 04th Nov 2019 18:02

(Alliance News) - Bahamas Petroleum Co PLC said Monday it has raised GBP6.8 million through an open offer.

The oil & gas exploration company said it received applications from qualifying shareholders for a total of 166 million shares under the open offer, representing 49% take-up by existing shareholders.

The shares will be issued at a price of 2 pence each and are expected to be admitted to London's AIM Market on Tuesday next week.

Bahamas Petroleum shares closed 4.5% higher in London at 2.20p each on Monday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

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