July 2014
The Company has placed 14,873,186 shares at A$2.60 cents/share to raise A$38.6 million, The Share Placement was significantly oversubscribed and was taken up by existing US and Australasian institutional investors
May 2015
LNG Limited is seeking to raise $174 million through the placement of 40 million shares through Foster Stockbroking. LNGL’s Board of Directors is pleased to advise that it has received irrevocable offers from institutional and sophisticated investors to subscribe for shares in connection with the Placement, at an issue price of $4.35 per share
a $3 fire sale of LNG would show that the institutional and sophisticated investors were willing to take a $54m loss on an investment in just over 1 year... but maybe thats a win for them? maybe they had already written off LNG? either way, doesnt seem very sophisticated....
LNG Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
