Woodside raises $1.7bn of $2.5bn goal
December 16, 2009
Woodside Petroleum Limited (WPL) shares were matching out 4.1% lower as it prepares to return to trading following the raising of $1.7 billion as a part of a $2.5 billion capital raising. Woodside said that over 93% of institutional shareholders participated in the offer, which priced shares at $42.10.
”This represents the first stage of Woodside’s approximately $2.5 billion equity raising, announced on 14 December 2009,” the company said in a statement released to the market.
Woodside CEO, Don Voelte, said the success of the institutional component of the equity raising demonstrated strong support for the company’s LNG growth portfolio, which includes an expansion of Pluto and the Browse and Sunrise developments.
The next stage of the capital raising is the retail entitlement offer, which opens next Monday and is expected to raise up to $800 million.
At the open at 1040 AEDT, Woodside shares were trading down 2.6% to $45.55.
”This represents the first stage of Woodside’s approximately $2.5 billion equity raising, announced on 14 December 2009,” the company said in a statement released to the market.
Woodside CEO, Don Voelte, said the success of the institutional component of the equity raising demonstrated strong support for the company’s LNG growth portfolio, which includes an expansion of Pluto and the Browse and Sunrise developments.
The next stage of the capital raising is the retail entitlement offer, which opens next Monday and is expected to raise up to $800 million.
At the open at 1040 AEDT, Woodside shares were trading down 2.6% to $45.55.
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