Share sale brings in millions for Amplats

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