Panmure Gordon raises £45m for Faroe Petroleum.
Deal brings corporate transaction involvement in 2007 to £1.2bn
LONDON – 30 November, 2008 – Leading mid-cap broker, Panmure Gordon & Co plc (PMR.L), today announced a successful capital raising of £45m for Faroe Petroleum plc. The deal’s completion brings the gross proceeds of corporate transactions in which Panmure has been involved in 2007 to more than £1.2bn.
“Panmure Gordon & Co has built steady momentum throughout 2007, successfully raising funds for our corporate clients in spite of volatile market conditions,” said chief executive officer, Tim Linacre.
“Today’s announcement reflects one of Panmure Gordon’s traditional franchises in Oil & Gas and follows the hiring this year of Finlay Thomson to cover this important sector. Finlay’s recruitment underscores our commitment to the sector, in which we will continue to build out coverage into 2008,” he said.