Jadestone Energy Inc (LON:JSE, CVE:JSE) got off to a premium start as its shares made its debut in London today.
The Asia-Pacific oiler, with assets in Australia, saw its shares quickly traded up to as high as 41.5p before settling just above the 36p marker.
Placing raised around US$110mln
Jadestone also confirmed it had now closed its placing, raising some US$110mln, with the new shares sold at 35p each.
The new funds cover the cost of the Montara acquisition, supports the drilling of the Stag infill well, and the cancellation of debt.
"We are delighted by the successful completion of our admission onto AIM, following our oversubscribed placing of $110 million,” said Paul Blakeley, Jadestone chief executive.
“On behalf of the board, I would like to thank new and existing shareholders for their support and look forward to providing further updates as we realise our ambition to become a leading player in the Asia-Pacific region, while delivering exceptional value to shareholders."