Santos successfully completes Retail Shortfall Bookbuild
Santos Limited (“Santos”) announces the successful completion of the retail shortfall bookbuild (“Retail Shortfall Bookbuild”) for the retail component of its fully underwritten 1 for 1.7 pro rata renounceable entitlement offer with retail entitlements trading (“Retail Entitlement Offer”) of new Santos ordinary shares (“New Shares”).
The Retail Shortfall Bookbuild represents the final stage of Santos’ $2.5 billion equity raising, announced on Monday, 9 November 2015.
Summary of the Retail Shortfall Bookbuild:
• Approximately 152 million retail entitlements (approximately $585 million) were sold in the Retail Shortfall Bookbuild.
• The Retail Shortfall Bookbuild had a clearing price of $4.10 (being the offer price of $3.85 per New Share, plus $0.25 per retail entitlement) representing a 6.5% premium to the offer price.
It was a success and no one can say it wasn't - higher retail uptake than the recent bank raisings
Santos will now have much less debt so we are actually in a much better place than we were a month ago when the sp was above $6..
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