Watson Farley & Williams (“WFW”) advised Star Energy Group Plc (“Star Energy”) on its equity fundraising of up to £9.1m through an accelerated bookbuild placing, subscription and retail offer.
The fundraising represents a significant milestone for Star Energy, providing capital to execute a targeted M&A strategy focussed on the acquisition of value-accretive production assets, aligning with the group’s plan to refocus on value creation from its core UK oil and gas portfolio and geothermal opportunities.
Listed on the AIM section of the London Stock Exchange, Star Energy has the largest UK onshore oilfield portfolio and is leveraging its subsurface expertise to advance low‑carbon geothermal energy solutions in support of Britain’s decarbonisation objectives. Through its extensive operational experience and existing infrastructure Star Energy delivers reliable, domestically sourced energy with a lower environmental footprint.
The WFW London Energy team that advised Star Energy was led by Corporate Partner Chris Kilburn, supported by Associate Toby Hunt.
Chris commented: “This successful fundraising is a positive endorsement of Star Energy’s management team and strategic direction. This transaction creates a strong platform for the company to pursue a pipeline of M&A opportunities and accelerate its exciting growth plans”.
Star Energy Group General Counsel Thamala Perera Schuetze added: “We are delighted with the strong support shown by our existing shareholders. This successful fundraise represents a clear vote of confidence in Star Energy, our people and our strategy. It gives us the platform to move forward with our plans to materially grow production. We are grateful for existing shareholders’ continued support and look forward to welcoming new investors and delivering on the opportunity ahead”.
