UK's Bowleven drops as fundraising plans fail to advance
21/07/2023 09:24
** Shares of oil and gas, exploration and production co
Bowleven BLVN.L fall as much as 17.1% to 1p
** Co shares rose as much as 200% to 3p in Thursday's
trading
** Bowleven says "not aware of any particular reason for the
sudden increase" in their share prices
** Stock set to record its worst day since March 2020, if
losses hold
** Says its fundraising efforts have not yet advanced and
there is no certainty of its conclusion
** Co flagged fundraising needs in 2023 to help finance
corporate activities and future expenditure
** Also continues to await completion of the 37.5% stake
sale by New Age in Etinde to Perenco
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com))