Oil Search Limited (ASX:OSH) has abandoned plans to sell a 3.5% stake in its PNG liquified national gas project to International Petroleum Investment Corporation.
But the company will today announce a proposed share placement to institutional investors, group secretary Stephen Gardiner told the ASX.
Oil Search has been placed into a trading halt at its own request until the final announcements are made.
OSH shares were suspended at $6.75, after declining 0.74% during Friday’s trading.
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