Equity raising to complete FAR’s funding plan for development capex to first oil
Thursday 12 December 2019
FAR Limited has announced a conditional placement to raise A$146 million at A$0.0425 per share (Placement). What's more FAR is conducting a share purchase plan to existing shareholders to attempt to raise a further A$30 million for the Equity Raising.
The proceeds form part of the planned financing package to fund FAR’s capex to first oil for the Sangomar Oil Field development in offshore Senegal as well as being used for the working capital and transaction costs for the project.