HONG KONG: As rollercoaster oil prices roil markets, Australian oil and gas producer Santos Ltd faces a tough task to raise the US$2bil it needs from asset sales to slash its debt and avoid having to swamp the market with new shares.
Santos put its assets up for sale just over a week ago, desperate to rescue its stock from a 15-year low due to sliding oil prices and worries it will sell new shares to cut A$8.8bil (US$6.2bil) in net debt.
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