off-the-wire

Anglo American unit launches placing of 16m Amplats shares

Kitco Media
By Reuters
Published:
Updated:
Reuters
Anglo American unit launches placing of 16m Amplats shares teaser image

Anglo American AAL.L said on Tuesday its South African unit has launched a placing of about 16 million shares in Anglo American Platinum (Amplats) as the London-listed miner works toward a demerger of the Johannesburg-listed unit.

The total offering size is about $535 million, according to a bookrunner.

Anglo American said it was proposing to sell about an additional 6% of Amplats as part of the demerger process.

The placing will also raise cash for Anglo American, the parent company of Amplats.

(By Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)

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