Oil Search's PNG retail offer opens

THE Papua New Guinea retail element of Oil Search’s A$1.16 billion equity raising has opened, for PNG-based existing shareholders to take up new shares at a rate of one new share for every eight already held.

Oil Search's PNG retail offer opens Oil Search's PNG retail offer opens Oil Search's PNG retail offer opens Oil Search's PNG retail offer opens Oil Search's PNG retail offer opens
"The proceeds will be used to strengthen Oil Search's balance sheet and increase liquidity so that Oil Search can withstand a prolonged period of low oil prices," it said.