Anglo American starts cutting stake in Amplats with share sale
Anglo American offered to sell about 13-million shares in Anglo American Platinum (Amplats) in a move aimed at increasing the South African firm’s free float ahead of a full exit.
The shares represent about 5% of Amplats’s total issued ordinary shares, Anglo said in a statement on Tuesday.
Anglo announced plans to exit its controlling stake in the South African platinum miner in May, as part of a wider restructuring plan unveiled in response to an unsolicited takeover proposal by larger rival BHP Group.
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