UK's Pharos Energy slumps to bottom of FTSE small-caps index as Serica declares bid final

Serica Energy

10/08/2026 08:17

** Oil and gas producer Pharos Energy PHARP.L falls 6% to 31.5p, top loser on FTSE small-caps .FTSC index 
** Serica Energy SQZ.L says £145.7 mln ($196.59 mln) proposal for Pharos Energy is final 
** SQZ shares up 1.3% at 232.6p
** Pharos board on Friday backed 32.8p/share bid from Israel-based Ratio Petroleum Energy RTPTp.TA, withdrawing backing for 32.67p/share SQZ offer 
** YTD, as of last close, PHARP up about 59%, SQZ advances around 31%, .FTSC up 9.5%
($1 = 0.7411 pounds)  

(Reporting by Atharva Singh in Bengaluru)
((Atharva.singh@thomsonreuters.com))