IN BRIEF: Petro Matad beats goal with GBP2.8 million equity raise
11th Jul 2025 09:55
Petro Matad Ltd - petroleum exploration, development and production in Mongolia - Raises GBP2.8 million from the placing and subscription of 355.4 million new shares at 0.80 pence. The raise was conducted via an accelerated bookbuild announced after the London market close on Thursday and run by Shore Capital Stockbrokers and Zeus Capital as joint bookrunners. The stock had closed at 1.15p. The raise beat Petro Matad's stated goal of a minimum raise of USD2.3 million, about GBP1.7 million. The company also aims to raise up to GBP500,000 more from an offer of 62.5 million new shares to retail investors at the same price. Read More