(Alliance News) - Energean PLC on Thursday said Third Point Hellenic Recovery Fund LP has updated its placing announced earlier on Thursday to sell 12.0 million Energean shares.
The FTSE 250-listed oil and gas firm initially launched the secondary placing to sell 10.0 million Energean shares. It said it now intends to raise gross GBP104.4 million at a price of 870 pence per share.
Energean said the placing will take place through an accelerated bookbuild, with the books opening immediately. The sale is subject to demand, price and market conditions and is expected to close no later than 1830 GMT on Thursday.
Third Point Hellenic Recovery Fund appointed Stifel Nicolaus Europe Limited and Peel Hunt LLP to act as joint bookrunners in relation to the placing.
Shares in Energean were down 4.0% at 894.10 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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Energean Oil & Gas (ENOG)