Pennpetro Energy Seeks GBP20 Million from Share Placement

12:21 AM EDT, 10/19/2026 (MT Newswires) -- Pennpetro Energy (PPP.L) is aiming to raise at least 20 million pounds sterling by placing new shares amid its acquisition of Canadian transition energy business Indigenous Canadian Energy Holdings. The London-listed oil, gas and renewables developer said Oct. 16 it is looking to offer up to 20% of its enlarged issued share capital after the acquisition, with net proceeds earmarked for the retail business of its target company. Completion of the share sale is subject to written commitments from potential investors for at least 15 million pounds of the offering by Jan. 31, 2027.