|
BASF SE is launching an accelerated secondary placing to sell approximately 60 million ordinary shares in Harbour Energy PLC, Morgan Stanley Europe SE announced on Thursday evening. Morgan Stanley is acting as BASF’s sole bookrunner in connection with the placing. It said the price per placing share will be determined through an accelerated bookbuild process, which started effective immediately following the announcement. Harbour Energy is not a party to the placing, and will not receive any of the proceeds. BASF is expected to hold approximately 37% of the total voting rights in Harbour, following the completion of the placing. Any shares which BASF does not sell will be subject to a lock-up of 90 days from the closing of the placing, subject to certain exceptions. BASF shares closed up 1.4% at €50.74 in Frankfurt on Thursday. Harbour Energy shares closed up 1.4% at 298.00 pence in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
