(Alliance News) -Â Wildcat Petroleum PLC on Wednesday noted a recent rise in its share price, and said it is not aware of any specific reason for the "significant increase".
Wildcat said it is not aware of "any material developments beyond those previously notified to the market" either.
Shares in Wildcat - a company targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, which began trading in London at the end of 2020 - closed 15% higher at 1.375 pence on Wednesday, giving the firm a market capitalisation of GBP33.0 million.
Wildcat began trading in London on December 30 after raising GBP600,000 via an offer for subscription of up to 600.0 million shares at a price of 0.1 pence each. Wildcat had a market capitalisation of GBP2.4 million on admission.
"The company's directors are focused on sourcing an appropriate target for Wildcat to acquire. At present, no assurances can be provided that the effort will be successful to source and/or complete a transaction," said Wildcat in a statement on Wednesday.
By Lucy Heming;Â lucyheming@alliancenews.com
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Wildcat Petrol. (WCAT)