Porto Energy completes C$70 million initial public offering
March 28, 2011
70.00 Million CAD
On March 28, 2011, Porto Energy Corp. (“Porto”) completed its initial public offering of 70,000,000 common shares at a price of C$1.00 per common share for a total offering of C$70,000,000.
The offering was offered by a syndicate of agents co-led by Raymond James Ltd. and TD Securities Inc. and included FirstEnergy Capital Corp. and Haywood Securities Inc.
This initial public offering is the first public offering for a company engaged in the onshore exploration of Portuguese oil and gas resources. Porto provides investors with a unique opportunity to participate in a unique asset base situated in a stable geo-political environment providing direct access to the large European market.
Porto Energy Corp. is an international oil and gas company engaged in the exploration of crude oil and natural gas in Portugal.
McCarthy Tétrault LLP represented Porto Energy, the issuer, with a team led by Rick Pawluk.