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Institutionals rally behind Oil Search

OIL Search has raised A$1.08 billion from institutional investors, falling just short of its target to raise $1.16 billion, which it announced yesterday.

paul hunt
Institutionals took up 95% of Oil Search's placement yesterday despite the oil price crash, COVID-19 challenges, and a deal over the P'ynang gas field in the air.

Institutionals took up 95% of Oil Search's placement yesterday despite the oil price crash, COVID-19 challenges, and a deal over the P'ynang gas field in the air.

The company, which holds a 29% stake in the ExxonMobil-operated PNG LNG and a 23% stake in the Total-operated Papua LNG project, is seeking cash to ride out the crash in oil prices and expected economic...

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