Share sale brings in millions for Amplats

post-title

The sale of Royal Bafokeng Platinum shares has netted Anglo American Platinum a tidy R390 million.

Anglo American Platinum (Amplats) has raised R390 million through the sale of 17.3 million shares in Royal Bafokeng Platinum. The shares sold at R22.50 per placing share.

The company said in a statement:

"Anglo American Platinum intends to utilise the placing proceeds to fund its share of the Maseve plant. The remaining placing proceeds will be utilised to fund Rustenburg Platinum Mines Limited's share of ongoing funding requirements in respect of the Bafokeng Rasimone Platinum Mine joint venture’s Styldrift project."

Following the placing, Amplats said that it would continue to hold some 2.6 percent of the total number of Royal Bafokeng Platinum’s ordinary shares in issue.

Pictured: Amplats FD, Ian Botha

Related articles

Three CFOs’ guide to managing boardroom expectations

Productivity SA CFO Okuhle Sidumane, Sappi Southern Africa CFO Pramy Moodley and BMI Coverland FD Tammy Narain explain how effective expectation management helps them ensure every engagement with their board is a success.

Top