Brokered offering sells 56,505,217 common shares at C$8.25 per share
By Devika Patel
Knoxville, Tenn., Oct. 16 - Africa Oil Corp. said it plans a C$466.17 million private placement of common stock.
The company will sell 56,505,217 shares at C$8.25 apiece, which is a 3.62% discount to the Oct. 15 closing share price of C$8.56.
Settlement is expected Oct. 28.
The placement will be conducted on a best-efforts basis by a syndicate comprised of joint bookrunners Citigroup Global Markets Ltd., Dundee Securities Europe LLP and Pareto Securities AS.
Proceeds will be used for exploration, an appraisal and development program in East Africa, as well as for corporate development and general working capital purposes.
Africa Oil is an oil and gas exploration and development company based in Vancouver, B.C.
| Issuer: | Africa Oil Corp.
|
| Issue: | Common shares
|
| Amount: | C$466,168,040
|
| Shares: | 56,505,217
|
| Price: | C$8.25
|
| Warrants: | No
|
| Bookrunners: | Citigroup Global Markets Ltd., Dundee Securities Europe LLP, Pareto Securities AS
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 28
|
| Stock symbol: | TSX Venture: AOI
|
| Stock price: | C$8.56 at close Oct. 15
|
| Market capitalization: | C$2.12 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
