Published: July 17, 2013
Nigeria-focused oil company raises US$20mn in rights issue on London market.
Lekoil, a London-listed oil and gas company with a focus on West Africa, has raised US$20mn through a rights issue to back projects.
The company has placed 33.85mn new shares at 39p with existing and new investors. The money will be used to fund the drilling and testing of the sidetrack well on the company’s OPL310 licence in offshore Nigeria
Mirabaud acted as sole bookrunner, while Revere Securities was US Placing Agent.