Salamander fires up rights issue

26 Apr 2012

Salamander Energy, a South East Asian oil exploration and production firm, launched a well-received £131m rights issue on Friday. Goldman Sachs, Oriel Securities and RBC Capital Markets are underwriting the deal.

Salamander is offering 13 new shares for every 20 held, a 37% discount to the theoretical ex-rights price based on Thursday’s close of 256.1p.

Investors were supportive in a wall-crossing exercise before launch, a process that encompassed sub-underwriting, and that was further shown on Friday when the stock briefly ...

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