Corporate Action: AWE Raising AUD 48 million to Bolster its Balance Sheet. Take up SPP
We reduce our AWE fair value estimate to AUD 0.75 from AUD 0.80 due to a fully underwritten AUD 38 million institutional placement under the 15% rule, and an associated AUD 10 million share purchase plan, or SPP. The AUD 0.50 issue price is at a sharp discount to fair value and approximately 5% dilutionary to it. But the discount also means we recommend retail shareholders take up their SPP entitlements to avoid much if not all the dilutionary impact. Eligible shareholders can subscribe for SPP ...AWE is an independent energy company focused on upstream oil and gas opportunities. Co. has a portfolio of production, development and exploration assets in Australia, New Zealand, and Indonesia. As of June 30 2016, Co. had total proved developed and undeveloped reserves of 44.4 million barrels of oil equivalents, which consisted of 151.9 petajoules of sales gas, 73.4 kilotons of liquefied petroleum gas, 0.9 million barrels of condensate, and 17.4 million barrels of oil.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.