By Ian WalkerPetrofac Ltd. said Tuesday that it is raising $275 million via a discounted share placing and open offer and will use the money to pay the U.K. Serious Fraud Office penalty and existing debt. Earlier this month the provider of services to the energy industry was fined 77 million pounds ($106 million) for seven historic offences related to projects awarded between 2012 and 2015.

Source: Wall Street Journal October 26, 2021 18:57 UTC