Dec 14 (Reuters) - Santos Ltd STO.AX
* Santos to raise approximately A$1.5 billion via an institutional placement and share purchase plan
* Announced a fully underwritten institutional share placement to raise A$1.04 billion
* SPP is expected to raise up to A$500 million and is not underwritten
* Following institutional placement, Santos will have a gearing ratio of approximately 32% and is expected to be below 30% following SPP Source text for Eikon: ID:nASXbj0kJl Further company coverage: STO.AX
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