Tullow Oil drops after unveiling £607m turnaround rights issue

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Follow-ons and Rights issues

Tullow Oil drops after unveiling £607m turnaround rights issue

Aidan Gregory
March 17, 2017 02:00 pm
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Undated handout photo issued by Tullow Oil of their logo. | Tullow Oil/PA Archive/PA Images

Shares in Tullow Oil, the UK oil and gas drilling company, fell 16% on Friday morning after it announced plans for a £607m rights issue to strengthen its balance sheet after oil prices have rallied from their slump in 2015.

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