Santos Limited
(ASX:STO) has announced it intends to raise $500 million from existing Santos shareholders by the end of January 2017.
The raising follows the company’s recent successful institutional placement, which saw the gas and oil producer raise just over $1 billion.
Shares will be offered at $4.06 cents, a 2 percent discount to the recent trading price.
Proceeds from both raisings will be used to strengthen the company’s balance sheet and take advantage of growth opportunities.
Santos Limited reported a net loss of $1.49 billion at 30 June 2016.
