Setterwalls has assisted Maha Energy AB in connection with directed share issue of approximately SEK 203 million

Setterwalls has assisted Maha Energy AB, listed on Nasdaq Stockholm, in connection with directed share issue of approximately SEK 203 million to a number of Nordic and international institutional investors, including the company’s main shareholder Turmalina Fundo de Investimento em Participações Multiestratégia Investimento no Exterior, an investment fund managed by Starboard Asset Ltda.

Maha Energy AB is a listed, international upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas. The company’s strategy is to target and develop underperforming hydrocarbon assets on global basis.

Pareto Securities is acting as financial advisor to Maha Energy AB in conjunction with directed share issue.