Street Talk
Pancontinental seeks $50m in new equity
SARAH THOMPSON AND ANTHONY MACDONALD
Pancontinental Oil & Gas is seeking to raise $50 million equity to further its Kenyan exploration program.
Institutional investors were given until Tuesday afternoon to buy in to the $50 million offer. Shares were offered at 17.5¢ each, or a 12.5 per cent discount to the stock’s last closing price.
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