Premier Oil rights issue boosted by share bounce, but legal hurdle remains

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Follow-ons and Rights issues

Premier Oil rights issue boosted by share bounce, but legal hurdle remains

Aidan Gregory
March 13, 2020 12:00 PM
Premier_Oil_PA_2_575_375
Utsira High, North Sea 20160216. Edvard Grieg field is an oil field located on the Utsira High in the North Sea, 180 km west of Stavanger. Oil was proven in the field in 2007, and oil production was started in November 2015. Oil drilling platform. Photo: Haakon Mosvold Larsen / NTB scanpix | Larsen, Haakon Mosvold/Press Association Images

Premier Oil’s stock surged by more than 65% on Friday after the company gave an update on its cash position following this week’s equity market slump, a positive for the banks working on its rights issue. However, the deal also hinges on a court case in Scotland.

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Responsible InvestmentRBC Capital MarketsEquityUKEuropeFollow-ons and Rights issuesEMEASRIJefferies LLC
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Aidan Gregory
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