Frontera Energy (TSE:FEC) has released an update.
Frontera Energy has announced preliminary results from its substantial issuer bid, where it plans to purchase CAD$40.5 million worth of its shares for cancellation at CAD$12.00 per share. The bid was oversubscribed, with approximately 4.35% of tendered shares expected to be purchased. This move will reduce Frontera’s outstanding shares, potentially increasing the value for remaining shareholders.
For further insights into TSE:FEC stock, check out TipRanks’ Stock Analysis page.
