Petroleum Africa
Find us on: 
Tuesday, February 17, 2015
Africa Oil Corp. has agreed to sell, on a brokered, private placement basis, an aggregate of approximately 57 million common shares at a price of SEK 18.5 (Cdn $2.74 equivalent), per share for gross proceeds of SEK 1,055 million, or $125 million equivalent.
Dundee Securities Europe LLP and Pareto Securities are acting as joint bookrunners to advise on and effect the private placement. Closing of the Offering is expected to occur on or about February 23, 2015, or such other dates as the company and the bookrunners may agree.
The closing of the Offering is subject to regulatory approval and certain other customary conditions including, but not limited to, the execution of a definitive agency agreement between Africa Oil and the bookrunners and approval of the TSX.
The new shares will be traded on Nasdaq Stockholm, subject to the Swedish Financial Supervisory Authority’s (Sw. Finansinspektionen) approval and registration of an admittance to trading prospectus regarding the new shares, and on the TSX, subject to approval from the TSX.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
