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Keo Capital Signs LoI for Keo Energy's Potential Combination With Lionheart Holdings

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Keo Capital (KEOC.ST) signed a nonbinding letter of intent for the potential combination of its Keo Energy unit with Lionheart Holdings.

The financial technology company said Monday that the potential combination will result in a US listing of Keo Energy with an indicative pre-money enterprise value of $400 million, subject to the final determination of applicable fiscal terms with the Venezuelan government.

Keo Energy's principal asset comprises an indirect equity interest in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela.

The parties are targeting a listing on the Nasdaq bourse's Capital Market tier.

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