APA raises A$200m in SPP

21st September 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia


Font size: - +

PERTH ( - Energy infrastructure company APA Group has completed its share purchase plan (SPP), raising A$200-million, well above the targeted A$75-million.

The SPP formed part of a greater capital raise, which also included a A$675-million institutional placement completed earlier this year, to part-fund the A$1.72-billion acquisition of Alinta Energy’s Pilbara assets.

The SPP was priced at A$8.46 a share, representing a 2% discount to APA’s volume weighted average share price between September 11 and September 15, and was lower than the issue price of A$8.50 used during the share placement.

“We are very pleased with the strong support received for the SPP and thank our security holders for their ongoing support of APA,” said CEO and MD Adam Watson.

The SPP securities are expected to be issued on September 22 and will start trade on September 25.

Alinta’s Pilbara assets include 200 km of high voltage powerlines, the 210 MW Port Hedland power station, the 238 MW Newman power station, the 35 MW Newman battery, the 60 MW Chichester solar farm, an 11.8% stake in 203 TJ/d Goldfields gas transmission pipeline, and 80 MW of further capacity under construction.

The acquisition provided APA with a significant growth platform to develop and operate remote-grid energy solutions for Australia’s resources industry, complementing APA’s already strong development and operational capability in key resource areas such as Mount Isa and Gruyere.

The balance of the purchase price will be funded by new debt facilities established in connection with the acquisition of A$993-million.

Edited by Creamer Media Reporter



Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...


Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (01/12/2023)
1st December 2023
Photo of Martin Creamer
Jupiter Mines, Copper 360 and DRDGold make headlines
1st December 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.191 0.228s - 109pq - 2rq
Subscribe Now