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RXT placement lands $44.1 million
By Upstream staff
Photo by RXT
Norwegian seismic services company Reservoir Exploration Technology (RXT) said it had raised Nkr270 million ($44.1 million) in a private placement of 5.51 million shares.
The shares were sold at a price of Nkr49.00 per share.
RXT said existing shareholders had given the go-ahead for the placement during an extraordinary general meeting held on 20 November. It said the placement had been directed towards investors in Norway, the UK and the US.
RXT said the proceeds of the sale would be used to invest in further seismic equipment for its future operations.
The placement was managed by Pareto Securities.
Wednesday, 13 December, 2006, 19:20 GMT | last updated: Wednesday, 13 December, 2006, 19:20 GMT
