Nabarro has advised a consortium of brokers comprising Panmure Gordon, Oriel Securities, RBC Europe and Pareto Securities in relation to the £65m cashbox placing by Faroe Petroleum. Faroe is an AIM listed independent oil and gas group focused on exploration, appraisal and production in Norway, the Atlantic Margin and the UK North Sea.

The Nabarro team was led by Head of Corporate Iain Newman and assisted by senior associate Ben Price and associate Sarah Etherington. Faroe was advised by K&L Gates LLP.

Commenting on the transaction, Corporate partner Iain Newman said:

”This is the third fundraising by Faroe that Nabarro has acted on, following the company’s successful rights issue and cashbox placing in 2010, and we are very pleased to have been involved again this time. The placing received a positive response from institutional investors, which is another indicator of the buoyancy we have been seeing in the UK equity markets since the start of 2014”.