18-cent investment gains 6,500%
Ahtabasca Oil, a Canadian oil company that was experiencing financial pressures, saw success through an investment by the Canadian "Nine Point Energy" fund, which purchased a nearly 10% stake in early 2021 at a price of 18 Canadian cents per share. This investment turned into a profit exceeding 6,500% after China’s Sinovus Energy acquired the company for 12 Canadian dollars per share. The deal is considered one of the most notable investment milestones, as shareholders benefited from a high acquisition price. In turn, Sinovus will assist in more efficiently developing the company's oil projects, especially amidst a wave of rising oil prices in the Canadian market due to geopolitical tensions and government support for the sector.
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