Diversified Gas and Oil raises £69m for gas acquisitions

By Sam Kerr
12 May 2020

Diversified Gas and Oil, the London-listed US oil and gas firm, has raised £69.4m of equity to help fund a package of potential acquisitions, taking advantage of continued low global oil and gas prices.

Credit Suisse, Mirabaud Securities and Stifel were bookrunners on the accelerated placing of 64.28m shares, which was covered quickly after launch on Monday afternoon. The deal was roughly 10% of DGO’s share capital.

The final price was £1.08 a share, a 1.6% discount to the close ...

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