Bahamas Petroleum Company Plc (Bahamas Petroleum), the oil and gas exploration company with a significant prospective resource in licences in The Bahamas, has successfully raised US$11.4m in its latest fundraising campaign, with Shore Capital acting as broker and sole bookrunner.
This includes total gross proceeds of US$4.3m by way of a successful Open Offer, together with additional gross proceeds of US$7.1m after the company saw strong demand and increased the size of the placing from the initial targeted amount.
The fundraise comprises part of a coordinated funding strategy by Bahamas Petroleum towards the drilling of an initial exploration well in The Bahamas during 2020.
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We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income. We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM. Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.
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Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.