19 Hrs
Source:
اقتصاد سكاي نيوز عربية
18-cent investment yields over 6,500% profit
In 2021, the Canadian "Nine Point Energy" Fund invested 18 Canadian cents per share in Athabasca Oil when the company was experiencing financial pressures and its stock was trading at low levels due to debt concerns. Thanks to this investment, when Cenovus Energy agreed to acquire Athabasca for 12 Canadian dollars per share, the fund achieved gains of over 6,500%, with the value of its stake surpassing 650 million dollars. This deal comes amid a rally in energy stock shares driven by rising oil prices and government policies supporting energy projects in Canada. The transaction is considered one of the most notable milestones in the fund’s journey, providing Athabasca with both financial and technical support to accelerate the development of its projects, along with an opportunity to enhance the value of its oil assets.
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