The new equity comprised of US$50 million from existing shareholders of the group, including Temasek, Petrofac, Capital International Private Equity, Standard Chartered, International Finance Corporation and IFC African, Latin American and Caribbean Fund, by way of an open offer and US$50 million invested by the IDB Infrastructure Fund II, sponsored by the Islamic Development Bank and other institutional investors.
Seven Energy’s chief executive officer, Phillip Iheanacho, said:“I am pleased by the continued support shown by our leading shareholders and the vote of confidence in our business plan demonstrated by the investment from the IDB Infrastructure Fund II. Seven Energy is now established as a significant participant in the rapidly developing Nigerian gas market,’’
