Beach to Cement Its Place as Australia's Largest Onshore Oil Producer via Drillsearch Merger

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/795" target="_blank" data-smartkarma-citation="entities:795:1">Beach Energy Ltd (BPT AU)</a> is raising A$301m (approximately US$235m) through a 3 for 14 accelerated non-renounceable entitlement offer to partly fund its acquisition of Lattice Energy from <a href="https://www.smartkarma.com/entities/797" target="_blank" data-smartkarma-citation="entities:797:1">Origin Energy Ltd (ORG AU)</a>.</p><p>The deal scores negatively on our framework largely due to the company's poor track record in the past and weak earnings momentum. However, we believe that with the acquisition the company will likely be able to reverse this trend given the accretive nature of the deal. </p><h2>Placement</h2>…

Beach Energy Ltd (BPT AU) is raising A$301m (approximately US$235m) through a 3 for 14 accelerated non-renounceable entitlement offer to partly fund its acquisition of Lattice Energy from Origin Energy Ltd (ORG AU).The deal scores negatively on our framework largely due to the company's poor track record in the past and weak earnings momentum. However, we believe that with the acquisition the company will likely be able to reverse this trend given the accretive nature of the deal. Placement…

Beach Energy Entitlement Offer - Shoring Up Good Assets