Karoon Gas launches capital raising

Group running $150m placement in an attempt to support farmout negotiations.

Karoon Gas Australia is raising $150 million through an institutional placement in an attempt to shore up its balance sheet amid farmout talks for its oil and gas assets in Western Australia, Brazil and Peru. 

The group entered a trading halt on Wednesday on announcing the placement, which is underwritten and priced at $5.10 a share, an 8.9% discount to the last trading price of $5.60 on 6 August.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

Related Articles