30th Dec 2021 16:53
Savannah Energy PLC - African‑focused energy company - Plans to raise around USD65 million through the issue of new shares priced at 19.35 pence each. The bookbuild will see the company place approximately 21% of its issued share capital. Savannah Chief Executive Andrew Knott said the expected USD65 million raise is intended to progress its planned acquisitions of ExxonMobil Corp's and Petronas's assets in Chad and Cameroon. On December 13, Savannah announced it had signed separate share purchase agreements to acquire assets from Exxon Mobil and Petronas for a combined value of USD626 million.
Current stock price: 19.35p
Year-to-date change: up 41%
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Savannah Energy