By Laura Lutz
Washington, Nov. 29 - Origin Energy raised A$400 million from a private placement of shares.
The company sold about 56.3 million shares at A$7.10 each, a 2.6% discount to the closing price of the company's shares on Nov. 24.
Proceeds will be used to fund the company's acquisition of Sun Retail from the Queensland government.
Citigroup Global Markets Australia Pty. Ltd. and Macquarie Equity Capital Markets Ltd. acted as joint underwriters and bookrunners for the deal.
The company also plans to conduct a share purchase plan in the first quarter of 2007 under which shareholders may acquire up to A$5,000 of shares.
Origin is a Sydney, Australia-based gas and electricity company.
Issuer: | Origin Energy
|
Issue: | Shares
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Amount: | A$400 million
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Shares: | 56.3 million
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Price: | A$7.10
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Warrants: | No
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Underwriters: | Citigroup Global Markets Australia Pty. Ltd., Macquarie Equity Capital Markets Ltd.
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Settlement date: | Nov. 29
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Stock symbol: | Australia: ORG
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Stock price: | A$7.37 at close Nov. 29
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