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Dar cards close to its chest as $1.1b Worley book set to close

Nov 07, 2018 - Australian Financial Review

There will be some nervous bankers at UBS and Macquarie Capital sitting by the phones after market on Wednesday.

The two banks and their equities clients are on the hook for $1.1 billion, thanks to corporate client WorleyParsons' rights issue.

The raising's $1.1 billion retail portion will close at 5pm on Wednesday and with the shares trading well under the offer price, expectations are for a big shortfall.

Sources said the offer was fully underwritten, which means a bunch of f...