Petro Matad Announces Oversubscribed Retail Offer

Petro Matad (GB:MATD) has released an update.

Petro Matad Limited, the Mongolian oil exploration firm, has successfully completed a significantly oversubscribed Retail Offer, resulting in the issuance of 20,000,000 new Ordinary Shares at 2.0 pence each. Shareholders were allocated about 31.5% of their soft pre-emptive allowance. The new shares, together with the Subscription Shares, will be admitted for trading on AIM, bringing the total issued share capital to 1,483,883,601 Ordinary Shares.

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