Santos Limited has announced a fully underwritten, pro-rata accelerated renounceable entitlement offer to raise $2.5 billion. STO is offering Entitlements pro-rata to all eligible Retail Shareholders.
Eligible shareholders are being offered the opportunity to purchase 1 New Share for every 1.7 existing Shares held as at the Record Date of 7.00pm (Sydney time) on Thursday, 12 November 2015 (Record Date), at the Offer Price of $3.85 per New Share.
The Institutional component raised approximately $1.17b, the Retail component is expected to raise $1.35b.
The proceeds of the Entitlement Offer will be used for general corporate purposes, including the repayment of debt.
