Hony commits $381m to Australia-listed oil player Santos
China's Hony Capital will buy A$500 million ($381 million) worth of shares in Australia-based oil and gas supplier Santos, as part of the company's bid to cut debt by raising A$3.5 billion.
In addition to Hony's purchase, Santos will issue A$2.5 billion in new shares to existing investors. This issue will be made at a price of A$3.85 per share, a 35% discount to the closing price of A$5.91...
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