By ShareProphets | Thursday 25 September 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Madagascar Oil (MOIL) yesterday raised £12.2 million through an equity placing which has been fully subscribed by three of the company’s largest shareholders. It plans to offer all shareholders the chance to get in at the same share price (10.25p) via an open offer which could raise another £3.9 million. Broker VSA – which acted on the placing – reckons this is cracking news and has increased its target price from 70p to 75p in a note out today.
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