Home Business Forte Oil begins road show to raise N20 billion fresh capital

Forte Oil begins road show to raise N20 billion fresh capital

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Oil marketing major, Forte Oil Plc, at the weekend, disclosed that it has embarked on a road show across the globe to woo foreign investors in its proposed N20 billion fresh capital drive for the expansion of its operations.

Julius Omodayo-Owotuga, Group Executive Director, Finance and Risk Management of the company, made this disclosure at a media parley with capital market journalists in Lagos. He said there were lots of foreign interest in the shares of Forte Oil Plc which he attributed to the company’s diversification strategy; operating in the downstream, upstream and power sectors of the Nigerian economy.

He disclosed that the oil marketing firm had approached the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to seek approval for the proposed N20 billion fresh fund raising

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