Case study
Gneiss Energy acts as Financial Adviser and Placing Agent for BPC plc on US$9.75 million Placing and Open Offer

Placing and Open Offer raising a combined £6.9 million (US$9.75 million) before expenses

Gneiss Energy is pleased to announce the firm has successfully acted as Financial Adviser and Placing Agent for Challenger Energy Group Plc (formerly Bahamas Petroleum Company Plc). This follows the previously announced successful Open Offer which raised £2.63 million (US$3.72 million) through the issue of ordinary shares at a price of 0.35p each to existing shareholders.
A Caribbean and Atlantic margin focused Oil and Gas company with exploration, production, appraisal and development assets across the region, CEG has announced that they've successfully raised US$6 million through a firm placing of new ordinary shares at a price of 0.35p per share. The Placing was undertaken via an accelerated book-build process, as announced on 19 May 2021.
The Placing Shares to be issued will rank pari passu in all respects with the CEG’s existing Ordinary Shares and will represent approximately 15.4% of the Company’s enlarged issued ordinary share capital, following admission of the Placing Shares.
Challenger Energy Group Plc
Year completed
Smart Grid Dark
Equity Raise
Handshake (1)
Financial Adviser and Placing Agent
Oil and Gas
Transaction value
US$9.75 million
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