17th Feb 2023 18:09
Diversified Energy Co PLC - Alabama, US-based gas and oil production company - Raises total gross proceeds of USD163.0 million in a placing of 128.4 million shares at an issue price of 105 pence per share. Notes that the issue price represents a 5.2% discount from the closing mid-market price on February 8. Plans to use the proceeds to partially fund the USD250 million consideration for the acquisition of upstream assets and related infrastructure from Tanos Energy Holdings II LLC. Issues 128.4 million new shares in total, representing 15% of its ordinary share capital. Expects the admission of these shares to take place at GBP0800 on February 28.
Current stock price: 104.33 pence
12-month change: down 8.5%
By Abby Amoakuh; Alliance News reporter
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