16th Sep 2016 06:53
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd on Friday said the recently closed open offer of shares in connection with its financial restructuring was over-subscribed and raised a total of GBP19.0 million, or USD25.1 million.
Acceptances have been filed for 2.29 billion new shares in the company priced at 0.8314 pence each - 73% less than the closing share price on July 14, when the balance sheet restructuring proposals were laid out. The open offer remains conditional on the other elements of the restructuring.
The price is also a 77% discount to the closing share price on August 31, the day the open offer was formally unveiled.
By Joshua Warner; [email protected]; @JoshAlliance
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