Ophir extracts premium pricing for primary ABO
Oil exploration firm Ophir Energy added to a recent 20% run-up in its share price on Wednesday after a big capital raise was priced at a premium. The deal was launched on Wednesday morning with a message that it was already oversubscribed with limited price sensitivity from indications taken during the previous day’s wall-crossing exercise and it was later priced at a 1.4% premium to the previous close.
The companys brokers handled the £151m deal, JP Morgan as global co-ordinator and joint bookrunner with Oriel Securities and RBC Capital Markets.
On Monday Ophir revealed better than expected drilling results at one of its many African projects which helped the stock put on 19% in the day. That
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