Australian Energy Shares News Origin Energy (ORG)


Origin Energy ASX ORGOrigin Energy (ORG) is a leading Australasian integrated energy company, participating in most segments of the energy supply chain, including natural gas and oil exploration and production, electricity generation, and energy retailing.

The company is also considered among the blue chip stocks in the Australian share market.

On 15 November, ORG announced a $2.3 billion capital raising to help pay for December’s purchase of NSW’s electricity assets.

The raising also means that ORG has reinstituted its FY11 guidance to underlying profit growth of around 15%.

The higher earnings forecast reflects an expected lower interest expense due to the paying down of debt associated with the asset purchase.

The new issue will be through an entitlement offer at $13, representing a 17% discount to ORG’s last price of $15.66.

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