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  3. Petro Matad Share Price
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  5. IN BRIEF: Petro Matad plans USD9.0 million fundraise to fund Heron-1

Pin to quick picksPetro Matad Share News (MATD)

Petro Matad Information

Share Price Information for Petro Matad (MATD)

London Stock Exchange
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Share Price: 2.325
Bid: 2.30
Ask: 2.35
Change: -0.05 (-2.08%)
Spread: 0.05 (2.174%)
Open: 2.41
High: 2.45
Low: 2.35
Prev. Close: 2.40
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IN BRIEF: Petro Matad plans USD9.0 million fundraise to fund Heron-1

Tue, 25th Jun 2024 19:00

Petro Matad Ltd - petroleum exploration, development and production in Mongolia - Plans to raise USD8.5 million via a placing and subscription by a director and shareholder for new shares at 2.0 pence each. In addition, plans to raise USD500,000 via retail offer at the same price. The placing will be effected by way of an accelerated bookbuild.

Chief Executive Mike Buck intends to subscribe for new shares worth USD100,000 and Petrovis, the company's largest shareholder, intends to subscribe for shares worth USD1.0 million.

The net proceeds will primarily be used to complete and put Heron-1 on production, drill, complete Heron-2 and put on production, drill the Gobi-Bear 1 exploration well and develop renewable energy projects.

Current stock price: 3.75 pence

12-month change: up 1.4%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Petro Matad Receives Mongolian Approval For Farm-Out To BG Group

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13 Apr 2015 13:34

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7 Apr 2015 10:18

Petro Matad, BG Group Partner Up In Two Blocks In Central Mongolia

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Petro Matad Says In Talks With Farm-Out Partner, As Shares Rise

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