British Virgin Islands-based Coastal Africa Group Ltd is a new investment company with a focus on investing in oil and gas assets in Africa. This includes infrastructure. The management is initially focusing on Nigeria, but other countries will be considered. Angola is another possibility.
There had been indications that the company wanted to raise £30m. Including the £10m raised via a convertible there was £27.4m raised. BP Oil subscribed for the convertibles. That provides plenty of fire power.
There does not appear to have been any trading in the first few days. The share price has remained...
