Anglo raises R7.2bn as it begins offloading platinum unit
The bookbuild process, which was carried out overnight, was managed by Goldman Sachs, Morgan Stanley and Rand Merchant Bank
10 September 2024 - 20:48
UPDATED 11 September 2024 - 22:57
Anglo American raised R7.2bn from the sale of a 5% stake in its platinum division, completing the first step in its stated plans to offload the business in its strategy to boost shareholder returns.
Under the deal announced late on Tuesday, Anglo sold 13.9-million shares, worth about R7.2bn, via an accelerated bookbuild — a share sale conducted in a short time — in Anglo American Platinum (Amplats) for R515 each...
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