Capital Markets team supports Liberum and Peterhouse on the successful fundraise of £6.8 million for Helium One Global

2 minute read
07 September 2023

Our Capital Markets team has advised Liberum and Peterhouse on a placing, subscription and retail offer for Helium One Global, the primary helium explorer in Tanzania, raising £6.8 million.

The placing was conducted through an accelerated bookbuild process undertaken by Liberum and Peterhouse acting as joint bookrunners.

The placing, subscription and retail offer will be effected by way of a cashbox placing of new ordinary shares in Helium One Global for non-cash consideration. The net proceeds of the placing and subscription will be used for drilling a second exploration well (Itumbula-C SE) on the Itumbula prospect immediately after the completion of the current drilling programme of the Tai-C well in the Rukwa Basin, additional licensing fees and general working capital purposes.

Principal associate in Gowling WLG's Capital Markets team, Alex Davidson, led on the fundraising, supported by corporate partner Charles Bond and trainee Nimmi Joseph.

Commenting on the fundraise, Alex Davidson said: "We are delighted to have assisted Liberum and Peterhouse in completing another successful fundraise. We look forward to seeing Helium One Global commence its second drilling programme."

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