Origin Energy Limited
(ASX:ORG) has announced a $2.5 billion entitlement offer.
The capital raising forms part of Origin’s $4.7 billion suite of new capital initiatives, launched in an effort to strengthen the company’s balance sheet.
The Energy company also outlined plans to make further reductions in capital expenditure and sell non-core assets.
Under the entitlement offer Origin Energy is offering four shares at $4 each for every seven held.
Origin Energy will remain in a trading halt until the commencement of trade on 6 October.
Origin Energy Limited noted a full-year net loss of $590 million.
