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Longboat Energy Plc ( (GB:SEA) ) has issued an announcement.
Seascape Energy Asia has raised £4.2 million gross through a placing and director subscription of 6 million new shares at 70 pence each, a roughly 11% discount to the prior close, representing about 9.5% of existing share capital. The new shares will rank pari passu with existing stock, and admission to trading on AIM is expected on 30 March 2026, taking the company’s voting share capital to 69.1 million shares before any retail offer.
Alongside the institutional raise, Seascape plans a UK retail offer at the same issue price via the Winterflood platform, further broadening its shareholder base. Management says the funds will support the next phase of growth in Malaysia by financing near-term value catalysts, and directors’ participation of £315,000, deemed fair and reasonable by the independent director, signals internal confidence in the company’s strategy and growth trajectory.
The most recent analyst rating on (GB:SEA) stock is a Hold with a £78.00 price target. To see the full list of analyst forecasts on Longboat Energy Plc stock, see the GB:SEA Stock Forecast page.
Spark’s Take on SEA Stock
According to Spark, TipRanks’ AI Analyst, SEA is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, widening losses, sustained negative free cash flow, and sharp equity erosion). Technicals are only neutral with modest near-term strength, while valuation is constrained by a negative P/E and no provided dividend yield.
To see Spark’s full report on SEA stock, click here.
More about Longboat Energy Plc
Seascape Energy Asia plc is an exploration and production company focused on Southeast Asia, with a particular emphasis on gas-weighted production sharing contracts in Malaysia. The company has built a portfolio of three Malaysian gas-focused PSCs, booking significant resources and bringing in partners while operating under a lean capital structure.
Average Trading Volume: 147,232
Technical Sentiment Signal: Buy
Current Market Cap: £50.51M
Find detailed analytics on SEA stock on TipRanks’ Stock Analysis page.