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FINWIRES

UK's Afentra Raises $40 Million via Oversubscribed Share Issue

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Afentra (AET.L) raised $40 million through an oversubscribed firm and conditional placing of 44,315,240 new ordinary shares at 0.67 pound sterling apiece.

The British upstream oil and gas company issued 22,615,600 firm placing shares to raise $20.4 million and 21,699,640 conditional placing shares to raise $19.6 million, according to a Thursday filing. The shares are expected to commence trading on the London stock exchange on June 9 and June 26, respectively.

Separately, Afentra plans to launch a retail offer of 2,985,074 shares to raise up to 2 million pounds. The retail offer shares are scheduled to begin trading on the London bourse on June 26.

Stifel Nicolaus Europe acted as bookrunner in the placing.

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