Origin Energy Ltd
(ASX:ORG) has completed the institutional entitlement of its offer to raise $1.13 billion.
It is the first stage of Origin’s $2.3 billion equity raising, announced on Tuesday.
Origin says the institutional entitlement offer attracted strong demand from the company’s institutional shareholders, who took up over 95 per cent of the new shares available.
The retail component of the entitlement offer will raise $1.17 billion, opening on March 21 and closing on April 13.
Origin Energy booked a net loss of $100 million for the six months to 31 December 2010.
