Australian Pipeline Trust completes retail offer

Company News

by Anna Napoli

Natural gas pipeline company, Australian Pipeline Trust (ASX:APA) has announced successful completion of its retail entitlement offer.

The company raised about $102 million under the offer, which had a 47 per cent take up rate by eligible security holders.

Combined with an institutional offer in February the company has raised around $500 million dollars.

The pipeline company commenced a Retail Shortfall Bookbuild which commenced after the market closed yesterday for any entitlements that were not taken up in the offer.

The company says the money raised will be used to assist in funding of APA’s growth projects and capital expenditure program.

Shares in Australian pipeline trust (ASX:APA) closed 1.11 per cent lower to $8.05 yesterday.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.