India, May 28 -- Shares of Brooge Energy Limited (BROG) gained over 18% on Wednesday morning after the company reached a deal for the proposed sale of Brooge Petroleum and Gas Investments Company FZE and Brooge Petroleum and Gas Investment Company Phase III FZE to Gulf Navigation Holding PJSC.
BROG is currently trading at $3.7900, up $0.6000 or 18.79%, on a large volume of 13.9 million shares, above average volume of 78 thousand, on the Nasdaq. The stock opened its trading at $4.5550 after closing Tuesday at $3.1900. The stock has traded between $0.8000 and $4.7800 in the past 52-week period.
The total consideration payable under the transaction amounts to $884 million, of which cash consideration includes $125.3 million.
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