Oil Search (ASX:OSH) close books on equity raise

Company News

by Rachael Jones

Oil Search (ASX:OSH) is pleased to announce the successful completion os the institutional component of its entitlement offer and placement raising $1 billion.

The combined proceeds of the equity raise is expected to be up to approximately $1.16 billion.

The deal was priced at $2.10 a share, which represented an 18 per cent discount to the theoretical ex-rights price.

Trading in Oil Search shares is expected to resume on the ASX.

Shares in Oil Search (ASX:OSH) are trading 3.76 per cent lower at $2.56