Reuters: Global Markets: Gulf Keystone denies fundraising speculation

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Gulf Keystone denies fundraising speculation May 10th 2012, 06:57 Thu May 10, 2012 2:57am EDT (Reuters) - Oil and gas company Gulf Keystone Petroleum Ltd (GKP.L) denied speculation on bulletin boards and social media websites that it planned a placement of its stock at 160 pence apiece. The rumored offering price would be at a 15 percent discount to the company's share close on Wednesday. The Kurdistan, Iraq-focused company said it had sought legal advice to counter the speculation. The company, which holds production sharing contracts for four exploration blocks in Kurdistan, also said it continued to be in talks with several interested bidders for the sale of its 20 percent stake in the Akri-Bijeel block. Shares of the company, which have fallen over 19 percent since the beginning of May, closed at 188.75 pence on Wednesday on the London Stock Exchange.

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