Ashurst has advised Fairview Capital Asset Management LLC, a US investment fund (Fairview) in a A$49.5 million share placement of LNG Limited (LNG), an Australian LNG company with assets in the US and Queensland.

LNG has raised A$49.5m with a placement of 90 million ordinary shares at $0.55 per share to US and Australian institutional investors, including Fairview. The Placement will be made in two tranches, with 31,207,254 shares placed under the company's placement capacity, and 58,792,746 shares placed subject to shareholder approval.

The funding will assist LNG Limited to fund their flagship project, the Magnolia LNG Project in Louisiana, and will provide working capital to allow LNG Limited to identify other LNG opportunities.

The corporate team was led by partner Roger Davies who was assisted by senior associate Patrick Nicholas and lawyer Richard Tan.