Santos completes Retail Entitlement Offer

Santos operate the GLNG project which began shipping earlier this year

Santos operate the GLNG project which began shipping earlier this year

Santos has successfully completed the retail component of its Retail Entitlement Offer of new shares after announcing a trading halt session earlier today.

This represents the second stage of Santos’ AU$2.5 billion equity raising which was announced earlier this month, with the institutional component closing on the 11 November.

Santos received AU$775 million in applications under the Retail Entitlement Offer, which translates as 201 million new shares or 57 per cent of available entitlements.

Around 152 million further entitlements will be offered under a shortfall bookbuild to be completed prior to market open on 3 December.

The settlement date for new shares is expected to be 9 December, and for them to be issued on 10 December.

Santos Executive Chairman Peter Coates said he was pleased with the support the company had received from its retail shareholders and that the results “demonstrate recognition from shareholders of the long-term value in Santos”.

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