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WorleyParsons Completes Institutional Entitlement Offer

11 Oct 2017  |  10:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: WorleyParsons completes Institutional Entitlement Offer

WorleyParsons announced the successful completion of the institutional component (Institutional Entitlement Offer) of its 1 for 10 accelerated non-renounceable pro-rata entitlement offers (Entitlement Offer) announced to the Australian Securities Exchange (ASX) on 9 October 2017. The Entitlement Offer is being undertaken to fund the acquisition of AFW UK Oil & Gas (AFW UK). The Institutional Entitlement Offer raised $253m at $13.00 per share (Offer Price), and was very well supported by eligible institutional shareholders, who took up 98.4% of their entitlements. The bookbuild to cover the small institutional shortfall attracted extremely demand from both existing Company's shareholders and other institutional investors.

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