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Trafigura's Puma Energy to raise $1.1 billion with share issue

2 Min Read
LONDON (Reuters) - Puma Energy will issue new stock worth $1.1 billion to help recapitalise the firm and make its top shareholder Trafigura an even bigger owner, while Angola will decrease its stake, the company said on Tuesday.
The rights issue is due to close mid-April. Angola holds the second largest stake at 31.7% in the firm via its state oil company Sonangol.
Trafigura spokeswoman declined to say how big a stake the company was aiming for.
Global commodities trader Trafigura raised its stake in Puma to 55% last year after it bought out most of Cochan Holdings’ stake in the firm. Cochan is owned by a former Angolan general and now holds 5%.

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