Premier Oil prepares $500m capital increase

By Aidan Gregory
07 Jan 2020

Premier Oil has become the first company to announce a major ECM transaction in 2020, a £385m ($500m) capital increase to repay debt and finance the acquisition of two UK North Sea oilfields from BP.

Shares in Premier Oil were trading at 118.35p by 1.36pm in London on Tuesday, up 16.6% from the previous close, giving Premier Oil a market capitalisation of £984m. The stock closed at 112.85p on Thursday, up 3.5% on the day. 

“The stock price is up today,” said a ...

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