https://www.engineeringnews.co.za

Santos falls short on retail offering

Santos falls short on retail offering

Photo by Bloombeg

2nd December 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Australian oil and gas major Santos has successfully completed the retail component of its entitlement offer, raising A$775-million.

The retail entitlement offer was the second stage of the company’s plans to raise A$2.5-billion in equity, with the institutional component of the entitlement offer closing earlier, and raising A$1.17-billion.

The ASX-listed company said on Wednesday that some 57% of the available retail entitlements had been taken up under the retail entitlement offer, with some 152-million retail entitlements now on offer under the retail shortfall bookbuild.

The retail shortfall bookbuild would be completed by December 3.

Chairperson Peter Coates said that he was pleased with the support that the company had received from its retail shareholders, despite the difficult oil price environment.

“The results of the retail and institutional entitlement offer demonstrates recognition from shareholders of the long-term value in Santos and their support for the initiatives the company has taken to substantially strengthen its balance sheet."

Santos has previously announced plans to reduce its debt by about A$3.5-billion, including the A$520-million sale of its interest in the Kipper gasfield, offshore Victoria.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Axiom Hydraulics
Axiom Hydraulics

Axiom Hydraulics is a trusted leader in South Africa’s hydraulic industry, delivering world-class components, systems, and engineering expertise...

VISIT SHOWROOM 
Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 1.039s - 140pq - 2rq
Subscribe Now