Sound Oil raises £3m through open offer

Oil and gas explorer Sound Oil has raised almost £3m through its open offer share sale.

On Tuesday, the London-listed group confirmed it had received acceptances for 15.59m new shares, to be issued at 19p each.

Sound offered 18.2m shares to existing investors through the open offer, with shareholders allowed to purchase one new share for every 23 shares they owned.

Sound Oil shares were up 0.20% to 17.66p at 08:54 on Wednesday.