* BNK Petroleum to place shrs with Quantum Partners
* To sell 26 mln shares at C$2.54 apiece
* Shares up about 8 pct
Oct 19 BNK Petroleum Inc (BKX.TO) will raise
C$66 million by selling shares to a fund managed by billionaire
George Soros to develop its shale gas assets in Europe, sending
shares of the junior gas explorer up 8 percent Tuesday morning.
BNK Petroleum said it will place 26 million shares at
C$2.54 apiece with Quantum Partners LP, a private investment
fund managed by Soros Fund Management LLC.
The deal, which will give Quantum Partners a 19.5 percent
stake in the company, is at 4 percent premium to BNK stock's
Monday close of C$2.45.
Shares of the Camarillo, California-based company, which
have gained about 51 percent in last six months, were up 21
Canadian cents at C$2.66 in the morning session on the Toronto
(Reporting by Ashutosh Joshi in Bangalore; Editing by Don