King & Wood Mallesons (KWM) has acted on Woodside Petroleum Limited’s pro rata accelerated renounceable entitlement offer (with retail rights trading) (PAITREO) of new ordinary shares to existing shareholders.
The KWM team, consisting of partner David Friedlander, senior associate Amanda Isouard and solicitor Michael Power, advised the joint lead managers UBS AG, Australia Branch and Morgan Stanley Australia Securities Limited.
The offer consists of an accelerated institutional rights issue and a retail rights issue (including retail rights trading) to raise approximately $2.5 billion.
Commenting on the offer, David Friedlander said: "This is the second time that we have worked on a major Woodside capital raising and helped the joint lead managers with these important initiatives."
KWM previously acted on Woodside Petroleum Limited’s $2.5 billion accelerated renounceable entitlement offer (AREO) in 2009.