Santos revealed Monday it planned to raise A$2.5 billion through a one-for-1.7 accelerated pro-rata renounceable entitlement offer.
The offer price of A$3.85 per share represents a 34.9% discount to Friday's closing share price of A$5.91 per share.
“The directors believe that it is in the interests of all shareholders to unequivocally strengthen the balance sheet at this time through this issue,” Santos executive chairman Peter Coates said.
“We
