LONDON, Oct 26 (Reuters Breakingviews) - Massive fines aren’t usually the basis for a successful equity offering. Tell that to Petrofac (PFC.L), which on Tuesday announced it would raise $275 million from investors, equivalent to more than a third of its market value the previous day. The UK oil services firm’s most eye-catching need for cash is to pay a $106 million fine for bribery-related offences, meted out earlier this month by Britain’s Serious Fraud Office. Petrofac’s visit to the equity trough is likely to be successful, courtesy of commitments from ex-chief executive and 19% shareholder Ayman Asfari and unspecified new investors. As recently as 2017 the company’s shares were worth over five times as much as the 158 pence at which they closed on Monday. Although they lurched down as much as a fifth on news of the fundraising, new broom Sami Iskander may be able to restore former glories without an SFO probe hanging over him. Even so, it’s another data point in heady markets. (By George Hay) On Twitter http://twitter.com/breakingviews Capital Calls - More concise insights on global finance: Scarcity value pushes Covea to revive an old deal read more Tesla rents a runaway $1 trillion valuation read more Volvo Cars IPO is priced to go read more Zooplus endgame may not be total dog’s breakfast read more Climate-driven train M&A goes off the rails read more