FAR Ltd launches equity raising, Bell Potter on ticket
Sarah Thompson, Anthony Macdonald and Tim Boyd
Dec 10, 2019 — 9.47am
As foreshadowed by Street Talk, Senegalese oil play FAR Ltd has launched a $146 million equity raising.
The conditional placement was priced at 4.25¢ a share, which represented a 12 per cent discount for FAR's five day volume-weighted-average-price, according to terms sent to funds.
The placement was subject to a shareholder vote in January and receipt of a credit approved term sheet for an underwritten US$350 million senior debt facility by the end of the year.
FAR's shares last closed at 5.4¢.
Bell Potter was lead manager on the raising and was calling for bids by 2pm on Wednesday.
In addition to the $146 million placement, FAR was looking to raise up to $30 million via a share purchase plan, funds were told. Eligible shareholders could subscribe for up to $30,000 worth of shares, offered at the placement price.
The $339 million FAR would use the equity to fund phase one of the Sangomar oil field, in Senegal.
FAR Ltd launches equity raising, Bell Potter on ticket Sarah...
Add FAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
43.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $39.73M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.0¢ | 42.5¢ | $47.27K | 110.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 86384 | 42.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 22150 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
|
|||||
|
Last
42.5¢ |
Change
0.000 ( 0.00 %) |
||||
| Open | High | Low | Volume | ||
| 43.0¢ | 43.0¢ | 42.5¢ | 5374 | ||
| Last updated 13.04pm 26/04/2024 ? | |||||
| FAR (ASX) Chart |