Petrofac Secures Court Approval for Financial Restructuring

Petrofac ( (GB:PFC) ) has issued an announcement.

Petrofac has received approval from the High Court of England and Wales to implement its financial restructuring plan, which will unlock $355 million in new funding and significantly reduce the company’s debt, strengthening its financial position. This move, supported by shareholders and creditors, is seen as a positive step for Petrofac, enabling the company to move forward with a sustainable financial platform and a robust pipeline of future opportunities.

The most recent analyst rating on (GB:PFC) stock is a Hold with a £0.20 price target. To see the full list of analyst forecasts on Petrofac stock, see the GB:PFC Stock Forecast page.

More about Petrofac

Petrofac is a leading international service provider to the energy industry, specializing in designing, building, managing, and maintaining oil, gas, refining, petrochemicals, and renewable energy infrastructure. The company operates primarily in the Middle East and North Africa (MENA) region and the UK North Sea, with additional significant markets in India, South East Asia, and the United States. Petrofac is listed on the London Stock Exchange and employs 7,300 people across 31 offices globally.

Average Trading Volume: 2,644,970

Technical Sentiment Signal: Strong Sell

Current Market Cap: £20.59M

Learn more about PFC stock on TipRanks’ Stock Analysis page.