Wikborg Rein assisted on Quantafuel fund raising
Wikborg Rein has assisted Quantafuel ASA (QFUEL-ME) in connection with a private placement of new shares with gross proceeds to the company of NOK 602 million.
The private placement was conducted as an overnight accelerated book building process, and was carried out in combination with a secondary sale of shares by certain existing shareholders. The selling shareholders sold shares for NOK 175 million.
Quantafuel is a highly interesting and profiled client. Quantafuel is a technology-based energy company converting waste plastics back into low-carbon synthetic oil products replacing virgin oil products. Quantafuel is establishing, operating and owning dedicated plastic-to-liquid (PtL) plants and plans to establish several plants throughout Europe and beyond.
ABG Sundal Collier and Pareto Securities acted as joint lead managers and joint bookrunners in connection with the private placement and Arctic Securities acted as co-manager.