By Laura Lutz
Washington, Nov. 29 - White Nile Ltd. settled a private placement of shares for £12 million.
The company sold 12 million ordinary shares to existing and new institutional investors at £1.00 per share.
Proceeds will be used for drilling and development at the company's Block Ba oil concession area in Southern Sudan.
White Nile is an oil exploration company based in London.
| Issuer: | White Nile Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £12 million
|
| Shares: | 12 million
|
| Price: | £1.00
|
| Warrants: | No
|
| Settlement date: | Nov. 29
|
| Stock symbol: | London: WNL
|
| Stock price: | 115p at close Nov. 29
|
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