| Origin raises $922m from retail investors |
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| Cushla Taylor |
| Tuesday, 19 April 2011 10:09 |
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Origin Energy has raised about $922 million from the retail component of an equity raising related to its purchase of NSW energy assets.
The company last month advised it had raised about $1.13 billion from the institutional component of the entitlement offer, representing a 95 per cent take-up. In total, Origin has raised $2.052 billion, from a maximum target of $2.3 billion. The company will offer for sale about 19.3 million new shares that were not taken up under the retail entitlement offer. Funds from the capital raising will be used mainly to refinance debt incurred by Origin's $3.6 billion acquisition of NSW power retailers Country Energy and Integral Energy, under the state government's $5.3 billion power asset sell-off. Origin managing director Grant King said the success of the offers showed there was strong support for Origin's acquisition of the assets. Both components of the one-for-five offer were priced at $13 per new share, a substantial discount to Origin's closing price on Monday of $16.38, which was down 33 cents. For the latest news click here For the latest Drive features click here For the latest Travel features click here For the latest Food & Drink features click here Follow myresources.com.au on Twitter |











