Proceeds earmarked for $10.8 million acquisition of Petroval Bunker
By Devika Patel
Knoxville, Tenn., Dec. 2 - Baltic Oil Terminals plc said it plans a private placement of stock. The company will raise £4.19 million.
The company will sell 16,769,500 ordinary shares at 25p apiece. The price per share is a 3.95% premium to the Dec. 1 closing share price of 24.05p. It also is a premium of about 2% to the Dec. 1 mid-market closing price of 24.5p.
Proceeds will be used for the company's planned $10.8 million acquisition of Petroval Bunker International BV.
The London-based company operates hydrocarbon transhipment terminals in the Baltysk on Russia's Baltic sea coast and trades in refined products.
| Issuer: | Baltic Oil Terminals plc
|
| Issue: | Ordinary stock
|
| Amount: | £4,192,375
|
| Shares: | 16,769,500
|
| Price: | 25p
|
| Warrants: | No
|
| Pricing date: | Dec. 2
|
| Stock symbol: | London: BTC
|
| Stock price: | 25p at close Dec. 2
|
| Market capitalization: | £18.83 million
|
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