Origin announced today $4.7b of new capital initiatives aimed at strengthening their balance sheet. As part of the initiatives, they announced a $2.5b pro rata renounceable accelerated entitlement offer (PRAITREO).
The entitlement offer is 4 for 7 PAITREO with all new shares ranking with existing shares. The new shares will be issued at $4.00, representing a 34.4% discount to Origin’s closing share price on 29th September.
Institutional Entitlement offer is 30 September to 1 October, and the Retail entitlements will trade on the ASX from 6th October to 19th October 2015.
