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Financials

Nigeria's Forte Oil eyes 20 bln naira share sale

LAGOS, June 19 (Reuters) - Nigeria’s Forte Oil plans a 20 billion naira ($66 mln) share sale to institutional and high net worth investors and has applied for regulatory approval, it said on Monday.

The energy firm said the capital raise will be done as a public offer for shares through a book building process to help price discovery. It has applied to the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange for approval.

$1 = 304.75 naira Writing by Chijioke Ohuocha

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