SDX Energy PLC (AIM:SDX, OTC:SDXEF) shares gained over 9% in early trading as the oil junior confirmed that it has received multiple offers in regard to the sale of its Egyptian assets.
In a short statement noting that it was aware of rumours concerning its Egyptian business, the company said its board is evaluating the offers.
SDX added that any proposed transaction would be subject to the usual conditions associated with a transaction of this nature, including but not limited to the satisfaction of a number of condition precedents such as government and shareholder approval.
It said: "The company will be providing further details in due course as well as further information on the plans to return value to its shareholders via organic and inorganic growth."
Around 8.55am in London, SDX shares were 9.8% higher at 6.15p.