Polo Resources Ltd - mineral resources investor - Notes investee company Hibiscus Petroleum Berhad raises up to USD480 million from a proposed private placement of convertible redeemable preference shares to acquire good-value, high-quality producing oil and gas assets. Polo holds 8.8% stake in Hibiscus.
Current stock price: 1.57 pence
Year-to-date change: down 60%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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