FAR Announced Equity Raising to Execute Its Funding Plan for Sangomar Field Development (Phase 1)

  • Dec 12, 2019 AEDT
  • Team Kalkine

FAR Limited (ASX: FAR) has announced a conditional placement to raise $146 million at $0.0425 per share. Other than this, the company will also be conducting a share purchase plan to the present qualified shareholders to raise another $30 million at $0.0425 per share.

The funds raised via conditional placement will support the company to fund FAR’s capex to first oil for the development of Sangomar Oil Field, offshore Senegal, working capital plus transaction cost.

AT AEST 1:03 PM, FAR shares are trading at $0.040, 25.926% below its previous close.


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