Street Talk

Cooper Energy plans $245m raising to buy APA’s Orbost

Anthony Macdonald, Sarah Thompson and Kanika Sood

Jun 19, 2022 – 3.57pm

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Cooper Energy’s set to brave wild equity markets and seek to raise $245 million fresh equity to buy APA Group’s Orbost gas processing plant this week.

Street Talk understands the company was eyeing a deal at 24.5¢ a share, with the raising to be split into an $80 million placement and $165 million rights issue.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au