WEC Raises $100 mln at $2.40 a share, proposes SPP at same price if waiver obtained

11 November 2009

Article Details
Source: OzEquities News Bites
Author: Jenny Prabhu

Summary

White Energy Company Ltd announced Southern Cross Equities Ltd has now formalised its unconditional offer on behalf of its institutional client base to provide WEC with $100 million of equity financing by way of a placement of 41.67 million shares at $2.40 per share.

A SPP will be offered at the same price, for up to $5,000 worth of shares underwritten by Southern Cross Equities and capped at $6 million. Since one SPP has already been conducted this year, this SPP will proceed if a waiver from the listing rules is obtained.

WEC up 10c to $2.75.