MELBOURNE, Nov 9 (Reuters) - Santos Ltd STO.AX plans to raise A$3 billion ($2.1 billion)through two share sales on Monday, after completing a strategic review in which it rejected a range of offers for assets except a stake in an Australian gas field sold to Japan's Mitsui & Co.
Santos, scrambling to pay down A$8.8 billion in net debt, had long resisted issuing equity, but it said on Monday it would offer A$3 billion in new stock to existing shareholders and sell A$500 million in new shares to a Chinese private equity firm, Hony Capital.
The private placement is being priced at a 15 percent premium to Santos' last trade.
($1 = 1.4235 Australian dollars)