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Gulf Keystone places 85.9 million shares at 21 percent discount

Reuters - UK Focus

March 31 (Reuters) - Oil producer Gulf Keystone Petroleum said it raised about $40.7 million through a share placement at a discount of 21 percent to the stock's Monday close.

Shares (Berlin: DI6.BE - news) in the company fell as much as 18.5 percent to 33 pence in early trade on the London Stock Exchange (Other OTC: LDNXF - news) .

Iraqi Kurdistan-focused Gulf Keystone said it placed 85.9 million shares at 32 pence per share, compared with their previous close of 40.5 pence. (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)