Santos shares have lifted nearly two per cent after the energy giant wrapped up its $2.5 billion capital raising.
Santos tapped investors for about $585 million after only 57 per cent of the $1.33 billion rights issue entitlements for retail investors was taken up.
The retail shortfall bookbuild had a clearing price of $4.10, a 6.5 per cent premium to the $3.85 offer price.
Santos had placed its shares in a trading halt on Wednesday while it carried out the retail shortfall bookbuild.
The stock fell to an intra-day low of $3.95 when it resumed trade on Thursday and then climbed seven cents to close at $4.13.
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The company announced plans in November to raise $3.5 billion through share and asset sales following a strategic review that was launched after it suffered an 82 per cent dive in first half profit.
It raised $1.17 billion from institutional investors before opening the offer up to retail investors.
"We are confident the Entitlement Offer, along with our other capital initiatives, will drive better returns for shareholders by substantially strengthening our financial position," executive chairman Peter Coates said on Thursday.
The company's shares have halved in value since May amid soft commodity prices.
