Sept 11 (Askume) – Mining company Anglo American (AAL.L) said on Wednesday one of its units had raised R7.2 billion from the sale of about 5.3% of Anglo American Platinum (AMSJ.J ) ($403.21 million ।
Anglo American South Africa Proprietary Ltd sold 13.9 million Amplats shares at $28.84 per share, the miner said.
On Tuesday, Amplats launched an accelerated book-entry offering of about 13 million Amplats shares ahead of an expected merger of its South African unit next year.
Anglo American said: “The placement is intended to expand the free float of Anglo American Platinum and reduce the number of shares allocated to Anglo American shareholders following the spin-off, which will reduce the return to funds following the spin-off.”
Amplats Chief Executive Craig Miller said in July that the company planned a secondary listing in London.
(1 USD = 17.8824 Rand)
