Chariot Limited Secures $7.1 Million in Oversubscribed Fundraising

Chariot Oil & Gas ( (GB:CHAR) ) just unveiled an update.

Chariot Limited announced the successful passing of all resolutions at its General Meeting, leading to the raising of US$7.1 million through an oversubscribed fundraising initiative. The funds will be used to secure stakes in wind generation, gas, and new upstream assets, as well as to strengthen the balance sheet and support the demerger of its Renewable Power pillar. This strategic move is expected to enhance the company’s growth and operational capabilities, positioning it favorably in the transitional energy sector.

The most recent analyst rating on (GB:CHAR) stock is a Buy with a £33.00 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.

More about Chariot Oil & Gas

Chariot is an Africa-focused transitional energy group with two core business streams: Upstream Oil and Gas and Renewable Power. The company is engaged in building a full-value chain upstream growth business within Africa, with a diverse footprint in Morocco and a focus on oil and gas opportunities. Additionally, Chariot is involved in generating and trading renewable power in South Africa and advancing projects like green hydrogen in Mauritania and a pilot project in Morocco.

Average Trading Volume: 2,964,488

Technical Sentiment Signal: Sell

Current Market Cap: £18.71M

See more insights into CHAR stock on TipRanks’ Stock Analysis page.