Harbour Energy founder EIG exits after placing

(Sharecast News) - Harbour Energy founder EIG said it had sold its remaining stake in the oil company via a secondary placing of 54.77 million shares to institutional investors through an accelerated bookbuild. The 3.5% stake was placed at 205p a share with gross proceeds of £112m. EIG, a US-based private equity firm, started the company in 2014 with a plan to build a "new global, independent oil and gas company by acquisition", according to Harbour's website.

Reporting by Frank Prenesti for Sharecast.com

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