Energy utility owner Duet Group expects to take full control of the main Western Australian gas transmission line in April after it raised $200 million in a placement offer.
Duet shares will resume trading on Friday and the company will issue 90.9 million new stapled securities at $2.20 each, which represents a 3.5 per cent discount on the price at Wednesday's close.
The group now aims to raise another $30 million through a share purchase plan.
The fresh capital will finance the $205 million purchase of Alcoa's 20 per cent stake in the Dampier-Bunbury pipeline, which would make Duet its sole owner.
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