Regal Petroleum raises USD 39 mln via equity placement
4 July 2008
Regal Petroleum (RPT LN: N/R), a London-based oil and gas company with assets in Ukraine, announced yesterday that it raised GBP 20.5 (USD ~ 39 mln) from an equity placement of 8.4 million new shares (4.1% stake). The shares were priced at 245 pence each; the stock closed at 234 pence on the day. Proceeds from the placement will be used for provision of additional drilling rigs in Ukraine and on seismic and drilling work in Romania. Regal expects new shares to be admitted to trading on AIM by July 8.
