Oracle Power Raises Funds via Share Placing

Oracle Power (ORCP.L) raised 500,000 pounds sterling in gross proceeds through a placing of 1.25 billion shares at 0.0004 pound each. The UK-listed energy project developer will use the net proceeds to advance the development of projects in Australia and Pakistan and for general working capital purposes, according to a Friday release. The new shares are expected to start trading on the London stock exchange's AIM segment on July 9.