Salamander to raise $201m

Salamander: the Asia-focused company plans to raise $201 million through a rights issue

London-listed Salamander Energy has announced a rights issue to raise about $201 million to provide funding for its operations in Thailand and Indonesia.

Salamander said it would issue up to more than 100.6 million new ordinary shares in the 13 for 20 rights issue at a price of 130 pence ($0.21) each which was a 49% discount to the closing price of 256.1 pence per share on Thursday.

Salamander said it planned to use the money raised to fund the enhancement of the Bualuang oilfield in the Gulf of Thailand through the addition of platform-based oil processing facilities which it believes will reduce operating costs, extend the economic field life and potentially increase output.

It will…

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