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.

Institutionals rally behind Oil Search Institutionals rally behind Oil Search Institutionals rally behind Oil Search Institutionals rally behind Oil Search Institutionals rally behind Oil Search

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

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