Australia's Origin Energy launched a $2.3 billion share sale on Tuesday to help pay down debt from its acquisition of two power businesses last year and fund further potential acquisitions. The share sale, which the company had flagged in December, is being carried out through a 1-for-5 offer to existing shareholders priced at A$13 a share, a 17 percent discount to Origin's last trade. "The entitlement offer will strengthen Origin's financial position as we continue to pursue growth opportunities to expand the scale and scope of our business," Origin Managing Director Grant King said in a statement.
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