Past year: ▼ 10%(10.76 – 12.38 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
28 Sept 2021capital raising announcement▲ GoodMajor
Generation Investment Management will buy about 7% of Octopus Energy for £211m, valuing it at about £3bn (A$5.5bn), triple the value when Origin invested in 2020. Origin adds £38m (~A$70m) to keep 20%, replacing the earlier £36m estimate.
28 Oct 2015capital raising announcement▲ GoodMajor
Retail shortfall bookbuild cleared at $5.35, $1.35 above the $4.00 offer price, completing the $2.5bn raising. Retail raised $1.19bn. Holders who did not take up, and ineligible holders, receive $1.35 per share, paid from 9 November. New shares trade from 5 November.
27 Oct 2015capital raising announcement▲ GoodMajor
Origin's retail entitlement offer took up 66% of available new shares, with $791m in applications at $4.00. About 101m unclaimed shares go to a bookbuild on 28 October. This is the second stage of the $2.5bn raising, after institutional ~$1.35bn.
7 Oct 2015capital raising announcement● Neutral
Origin wrote to ineligible retail shareholders, who cannot take part in the offer. Their entitlements will be sold in a retail shortfall bookbuild on 4 November and they receive any net proceeds, though value is not guaranteed. Administrative notice.
7 Oct 2015capital raising announcement● Neutral
Origin lodged the 77-page Retail Entitlement Offer Booklet: 4 new shares for every 7 held at $4.00, closing 26 October. Only the front matter is visible, so it adds no new figures beyond the already announced terms.
6 Oct 2015capital raising announcement● Neutral
Origin confirmed the trading halt lifts today and retail entitlements start trading, following the institutional offer completed on 2 October. Administrative notice with no new figures.
2 Oct 2015capital raising announcement● Neutral
ASX notice setting out the entitlement offer timetable. Retail rights trade 6-19 October, the retail offer closes 26 October, results are due 28 October and new retail shares trade normally 5 November. Administrative, no new figures.
2 Oct 2015capital raising announcement▲ GoodMajor
Origin's institutional entitlement offer raised about $1.35bn at $4.00, with roughly 92% take-up. The shortfall cleared at $5.20, so non-participants get $1.20 per share. The retail offer for the remaining $1.2bn opens 13 October, completing the $2.5bn raising.
1 Oct 2015capital raising announcement● Neutral
Origin told eligible retail shareholders of the entitlement offer terms: 4 new shares for every 7 held at $4.00, a 34.4% discount to the 29 September close. About 636m new shares will take the total to roughly 1,749m. Macquarie underwrites; record date is 6 October.
30 Sept 2015capital raising announcement▼ BadMajor
Origin launched a fully underwritten $2.5bn 4-for-7 entitlement offer, plus $2.2bn of other measures: $1.0bn capex and working capital cuts, FY16-17 dividend cut to 20cps, up to $800m asset sales. It targets net debt below $9bn by FY17 and exits geothermal and international exploration, reversing the earlier 50cps dividend intention.
9 Sept 2014capital raising announcement▲ GoodMajor
Origin priced a €1bn 60-year hybrid at 4.00% (about 7.91% after hedging to roughly A$1.4bn), expecting 50% equity credit from S&P and Moody's. It completes Browse financing, replacing the earlier planned equity raise; settlement expected mid-September.
25 Mar 2014capital raising announcement● Neutral
Contact made its final allotment of 10.1m new 5.80% bonds, taking the new CEN020 bonds to NZ$222m. The exchange of old bonds left 348.8m outstanding. This concludes the bond issue, but no repayment plan for the remaining May 2014 bonds is stated.
20 Mar 2014capital raising announcement● Neutral
Contact allotted 211.9m of its new 5.80% bonds due 15 May 2019, including 184.8m exchanged for old bonds, which is 34.6% of the existing class. About 349.3m of the old bonds remain. This is the first allotment of the refinancing.
18 Mar 2014capital raising announcement● Neutral
Contact reserved a further $6m of its 5.80% bonds for broker clients, bringing applications to about $220m of a total offer of up to $225m. The general offer closes 20 March, and the final allotment moves forward to 25 March.
14 Mar 2014capital raising announcement▲ Good
Contact set its retail bond rate at 5.80%, the bottom of the 5.80-6.00% range, after receiving over NZ$210m of applications. Existing bondholders were over 80%. Contact took oversubscriptions, so the offer may reach NZ$250m. This progresses the May 2014 refinancing.
28 Feb 2014capital raising announcement● Neutral
Contact Energy (Origin holds 53.09%) said bond exchange packs go out 3 March, with applications due by 13 March. It reserved $25m of bonds for broker clients at an assumed 5.80%. This is administrative follow-up to the retail bond offer opened 26 February.
18 Feb 2014capital raising announcement● Neutral
Contact registered its retail bond prospectus: up to NZ$200m plus NZ$50m oversubscriptions, maturing 15 May 2019, expected rate 5.80-6.00%. Opens 26 February. Holders of the NZ$534m May 2014 bonds can exchange. This confirms the refinancing planned since December.
21 Feb 2013capital raising announcement▲ GoodMajor
S&P upgraded Origin's credit rating from BBB+ (negative outlook) to BBB (stable). Origin says it has no intention to raise equity to fund APLNG, whatever the outcome of the APLNG dilution process, and needs no refinancing until FY2015.
22 Dec 2011capital raising announcement▲ GoodMajor
Origin closed its subordinated notes offer at $900m, up from $800m allocated in the bookbuild on 1 December, after $82.2m of shareholder and $17.8m of general demand. First-period interest is 8.47% a year; proceeds help fund its APLNG contribution.
2 Dec 2011capital raising announcement● Neutral
Origin sent eligible shareholders a postcard about the subordinated notes offer, which opened 1 December and closes 14 December. Initial rate is about 8.6%, margin 4.0%, minimum application $5,000. No new terms; administrative.
1 Dec 2011capital raising announcement▲ GoodMajor
Origin allocated $800m of subordinated notes through its bookbuild, above the $500m initial size, with the margin set at 4.00% over bank bills (about 8.60% initially). Retail offers opened; notes mature 22 December 2071. Proceeds help fund APLNG.
29 Nov 2011capital raising announcement● Neutral
Origin lodged a replacement prospectus for its subordinated notes after talks with ASIC, amending the mandatory interest deferral test to use interest cover and leverage ratios. It adds the Kansai Electric LNG deal; the offer is expected to open 1 December, closing 14 December.
23 Nov 2011capital raising announcement▼ Bad
ASIC extended the exposure period for Origin's notes prospectus by seven days to 29 November, to consider terms including mandatory deferral of interest payments. Origin says the bookbuild drew very strong demand and it is working to resolve the matter. Delays the planned offer opening.
18 Nov 2011capital raising announcement● Neutral
Origin forwarded the Contact Energy Capital Bond prospectus (Origin holds 52.76%). Bonds are unsecured, subordinated and mature 15 February 2042, with early redemption from 15 February 2017. This is the documentation for the offer already announced; proceeds are for general corporate purposes.
15 Nov 2011capital raising announcement● NeutralMajor
Origin lodged a prospectus to raise $500m, with the ability to raise more or less, through ASX-listed subordinated notes maturing 2071 with a first call in December 2016. The margin is expected at 4.00-4.50% over bank bills. Proceeds help fund APLNG, following the US$500m notes in October.
29 Sept 2011capital raising announcement● Neutral
Origin issued 9.5m shares at $12.74 to DRP participants and 11.1m shares at $13.0697 to Merrill Lynch as underwriter of the final dividend DRP. The underwriting announced in August was therefore used; about 20.6m new shares in total.
What it means for a shareholder
9.5m new shares at A$12.74 to raise about A$121m. That's 82% dilution: every existing holder's slice gets 82% smaller. If you held A$1,000 of shares (78 at the issue price), your slice goes from 0.0037% to 0.000675% of the company. To keep it you'd need 351 more shares - about A$4,472 at the issue price.
Create a free account to see this worked out for your own holding.
14 June 2011capital raising announcement● Neutral
Contact issued 3,797,068 shortfall bookbuild shares on 13 June, taking shares on issue to 695,068,288. Origin's stated holding of quoted shares is now 52.57%. This completes the entitlement offer's administrative steps.
9 June 2011capital raising announcement● Neutral
Contact allotted 65,741,274 new shares at NZ$5.05 under its entitlement offer, taking shares on issue to 691,271,220. Origin's stated holding of quoted shares rose to 52.37%. Shortfall shares follow on 13 June.
What it means for a shareholder
65.7m new shares at NZD 5.05 to raise about NZD 332m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
8 June 2011capital raising announcement▲ Good
Contact's shortfall bookbuild sold about 3.8 million shares at NZ$5.85, an 80c premium to the NZ$5.05 offer price. Total proceeds are NZ$351.2m, mainly for Te Mihi. This completes the raising that Origin supported.
What it means for a shareholder
3.8m new shares at NZD 5.85 to raise about NZD 22.2m. That's 64% dilution: every existing holder's slice gets 64% smaller. If you held NZD 1,000 of shares (171 at the issue price), your slice goes from 0.00805% to 0.00289% of the company. To keep it you'd need 306 more shares - about NZD 1,790 at the issue price.
Create a free account to see this worked out for your own holding.
2 June 2011capital raising announcement▲ Good
Contact's entitlement offer closed with acceptances for 65.6 million new shares (about NZ$331.9m), roughly 94.5% take-up. About 3.8 million remaining shares go to a bookbuild on 8 June. Origin had said it would take up its full entitlement.
