Duet Group
(ASX:DUE) subsidiary DBP Development Group has reached a deal with Chevron Australia to build, own and operate the domestic gas pipeline for the Chevron-operated Wheatstone Project.
Duet says it will launch a fully underwritten placement to raise approximately $100 million to fund the project.
Duet says the placement will be conducted via a variable price bookbuild with an underwritten floor price of $2.03 per new stapled security, with the final price to be determined by the bookbuild.
The underwritten price represents a 2.4 per cent discount to Duet's closing price on Friday.
The group has entered its shares into a trading halt ahead of the placement launching.
Duet delivered a net profit of $19.6 million in fiscal 2013.
