PETALING JAYA: Hibiscus Petroleum Bhd
says it has secured London Stock Exchange’s (LSE) AIM-listed Polo Resources Ltd as a new substantial shareholder, which is taking up a block of 90 million new shares for US$5mil or 23.5 sen each.
Hibiscus, which is an oil and gas (O&G) exploration special-purpose acquisition company, told Bursa Malaysia that the block of shares to be placed out to Polo Resources would be 8.4% of its paid-up.
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