Middle East Economic Survey
VOL. LIII
No 32
9-Aug-2010
REGIONAL
Circle Oil Makes $65Mn Ordinary Share Placing
Circle Oil is to make an ordinary share placing hoping to raise 40.6mn ($61.5mn) that will partly be used to fund new capital expenditure on its concessions in Morocco and Egypt, the company announced on 3 August. The latter is placing 141,666,667 ordinary shares at a price of 0.30/share a discount of 6.25% to raise gross proceeds of 42.5mn ($65mn). With these fresh funds, Circle can...
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