https://newsletter.mw.creamermedia.com
Africa|Copper|Iron Ore|Platinum
Africa|Copper|Iron Ore|Platinum
africa|copper|iron-ore|platinum

Anglo American South Africa raises R7.2bn through sale of some Amplats shares

Amplats' Mogalakwena operations

Amplats' Mogalakwena operations

11th September 2024

By: Creamer Media Reporter

     

Font size: - +

Anglo American South Africa (AASA), a subsidiary of diversified miner Anglo American, has sold 13.94-million shares of Anglo American Platinum (Amplats) at a price of R515 a share, raising gross proceeds of R7.2-billion, or about $400-million.

The shares were raised in an accelerated bookbuild launched by Anglo American on Tuesday evening and form part of Anglo American's planned demerger of its majority stake in Amplats.

"Through this placing we are moving proactively to distribute some of our Amplats shares into the hands of a wider range of investors ahead of the planned demerger. This is expected to increase share trading liquidity in the near term, as well as mitigate the impact of flowback following the demerger as a result of fewer Amplats shares being distributed to Anglo American's shareholders," Anglo American CEO Duncan Wanblad said at the launch of the bookbuild on Tuesday.

AASA now holds 73.3% of the issued ordinary shares in Amplats.

"The proceeds from the placing will also reduce our net debt as we continue to implement our portfolio transformation to focus on copper, premium iron-ore and crop nutrients – and thereby drive sustainably attractive returns," Wanblad added.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.488 0.584s - 142pq - 2rq
Subscribe Now