From Reuters
(Reuters) – Canadian oil producer Cenovus Energy Inc CVE.TO said it may sell up to $5 billion of stock, debt or other securities, a day after it announced a dividend cut, as the company shores up its balance sheet amid a slump in oil prices.
The company filed with the U.S. Securities and Exchange Commission for a mixed shelf offering after the company also said on Thursday it would cut its 2016 budget and lay off more employees.
In a mixed shelf offering a company may sell securities in one or more separate offerings without filing a prospectus for each one. The filing does not necessarily mean that the securities will be sold immediately, if at all.
