Oil Search raising US$700M

OIL Search has launched an accelerated pro-rata non-renounceable entitlement offer, an institutional placement, and an offer to eligible Papua New Guinea shareholders, to raise a total US$700 million or A$1.16 billion. 

Oil Search raising US$700M Oil Search raising US$700M Oil Search raising US$700M Oil Search raising US$700M Oil Search raising US$700M

Wulff confirms PNG LNG sale was considered

The massive capital raise is aimed at strengthening the company's balance sheet and increasing its liquidity in a time of long term low prices.
 
The A$2.10 per share price is a 23.
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