Middle East Economic Survey
Tethys Completes $100Mn Equity Offering
Tethys Petroleum announced 20 October that it has completed its public equity offering of 70,600,000 ordinary shares to raise $100mn. The shares were sold at a price of $1.417 (C$1.45) each. The net proceeds of the offering are intended to fund work on the companys existing assets in Central Asia. In a company statement ahead of the offering, Tethys said: The aim of the offering is to...