Middle East Economic Survey
White Nile Raises $12.6Mn For Sudan Exploration
Britains White Nile has raised 7mn ($12.6mn) through the issue of 7mn new ordinary shares at 1.00 per share to fund exploration in Sudans disputed Block B. Shares in the company rose 4.5p to 119p following the announcement. The proceeds of the non-brokered private placing, conducted with existing shareholders as well as new institutional investors, will be predominantly allocated to our...