Singaporean oil and gas producer Jadestone Energy plans to raise $95 million via a share placing ahead of its admission to trading on the Alternative Investment Market (AIM) of the London Stock Exchange.
The company said it will use the funds raised in the placing to cover part of the costs of the acquisition.
The fund is an opportunity for Jadestone Energy growth, enhancing its corporate profile and access to a wider investor base in the near future.
The Asia Pacific-focused oil and gas exploration company expects to be admitted to AIM in August. It will be dual-listed then as it currently trades on the Toronto stock exchange.