Hony boosts interest

AT LEAST someone has faith in Santos, which is trading near record lows off the back of announcing a massive $2.7 billion loss this morning, with major shareholder Hony Capital snapping up more than $100 million worth of shares just days after a ban stopping it from exceeding an agreed cap expired.

Hony dropped $500 million into Santos last November as part of a share subscription agreement to secure 73.5 million fully paid ordinary shares at a price of $6.