Shares in Tullow Oil fall as debt plan revealed

Shares plunged in Tullow Oil following the surprise announcement it was issuing a £607m (€695m) sales share at a vastly discounted price.

Shares in Tullow Oil fall as debt plan revealed
Sun, 19 Mar, 2017 - 00:00
Pádraig Hoare

The Irish-founded exploration company offered an issue price of 130 pence yesterday for new ordinary shares, a discount of 45% to the closing price on the previous day.

Shares in the company fell almost 15% following the announcement, which took analysts by surprise.

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