Oil and gas major Oil Search has completed the retail component of it’s A$400-million entitlement offer, raising an initial A$80-million.
Oil Search last month announced plans for a A$1.1-billion raising, consisting of underwritten institutional placement to raise an initial A$760-million, and an accelerated non-renounceable entitlement offer to raise a further A$400-million, at a ratio of one new share for every eight shares held.