australias-apt-launches-a356-million-rights-issue

AustraliaÆs APT launches A$356 million rights issue

The question is, will Alinta participate in the 2:7 offering?
Gas distributor Australian Pipeline Trust has launched a 27 renounceable rights issue to raise A$356 million $267 million that will be used to reduce gearing levels and fund future acquisitions. The deal follows the October acquisition of the Allgas distribution business for A$519 million.

Shares in the rights issue will be offered at a price of A$3.75 each, which is a 17% discount to the closing market price on November 15. The 94.9 million ordinary shares will be fully paid and will rank equally with other units, but will not be eligible for the 7 cent interim distribution for financial year 2007.

Petronas Australia, a division of MalaysiaÆs national oil and gas company, owns...
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