Saturday 7 December 2019

Major investor in PetroNeft sells 6pc holding in company

New ground: PetroNeft's exploration works in Russia
New ground: PetroNeft's exploration works in Russia

A MAJOR investor in PetroNeft Resources has sold its 6pc holding in the oil exploration firm.

The Macquarie Bank traded its 42.9 million shares for 5.37 pence last week.

The vast majority of the stock was taken by a large institutional investor, which is understood to be a shareholder with a small stake in the firm.

The remainder of the shares, which were placed by Davy, went to small private clients.

They were bought for 5.37 pence, below todays price which remained steady at 5.55 pence in London.

PetroNeft had told the Irish Stock Exchange it had received notification from Macquarie Group Limited, on behalf of Macquarie Bank Limited, that following market trades on 18 July 2014 “it no longer holds a notifiable interest in the issued share capital of PetroNeft”.

Last month the oil and gas exploration firm received regulatory approval from Russian authorities to farm out a licence there to Oil India.

Online Editors

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