Chariot Limited Announces $6.5 Million Fundraising to Support Strategic Demerger

Chariot Oil & Gas ( (GB:CHAR) ) has provided an update.

Chariot Limited has announced a fundraising initiative to raise approximately US$6.5 million through a placing, subscription, and open offer. The funds will be used to secure stakes in wind generation, gas, and new upstream assets, as well as to strengthen the balance sheet to support the demerger of its Renewable Power pillar. This strategic move aims to create two distinct investment opportunities by separating its upstream oil and gas operations from its renewable energy business, reflecting the company’s evolved strategy and the significant developments in its portfolio.

The most recent analyst rating on (GB:CHAR) stock is a Buy with a £6.00 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.

More about Chariot Oil & Gas

Chariot Limited is an Africa-focused transitional energy group with two main business streams: Upstream Oil and Gas and Renewable Power. The company is involved in building a full-value chain upstream growth business within Africa, holding a diverse footprint in Morocco with offshore and onshore licenses. Chariot’s Transitional Power business focuses on generating and trading renewable power in South Africa and advancing projects like green hydrogen in Mauritania and a pilot project in Morocco.

Average Trading Volume: 3,037,216

Technical Sentiment Signal: Sell

Current Market Cap: £17.34M

For a thorough assessment of CHAR stock, go to TipRanks’ Stock Analysis page.