NASSAU, BAHAMAS – Leno Corporate Services Limited has extended the initial offering period for the Bahamas Petroleum Company (BPC) Investment Fund until Wednesday.
The fund was established for the purposes of enabling qualified Bahamian investors to share in the outcome of BPC’s oil exploration project to commence this year.
The initial offering period for the fund, which was scheduled to close at on February 7 has now has been extended until February 12, 2020.
Leno said it had applied the extension to accommodate the administrative processing of applications during the initial subscription period.
The Professional Fund was set up for financial institutions and high net-worth individuals with a minimum buy-in of $10,000.
After the fund closes investors have the option to subscribe on a monthly basis at the prevailing Net Asset Value per Share price.
BPC, the oil and gas exploration company licensed by The Bahamas’ government to assess the country’s petroleum resources, will commence its first exploratory drill within the next two months.