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4-Traders Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Anglo American Platinum Ltd(ADR)    ANGPY

ANGLO AMERICAN PLATINUM LTD(ADR) (ANGPY)
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Anglo American Platinum : Sells 17.3 Million Shares in Royal Bafokeng

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04/25/2018 | 10:15am CEST

By Oliver Griffin and Dimitrios Kontos

Anglo American Platinum Ltd. (AMS.JO) said Wednesday that it sold 17.3 million shares in Royal Bafokeng Platinum Ltd. (RBP.JO) via an accelerated placement for 390 million South African Rand ($31.6 million), to fund a joint-venture project between the two companies.

On Tuesday, Anglo American Platinum said it would sell up to 12.7 million shares, corresponding to roughly 6.5% of Royal Bafokeng's shares in issue.

Anglo American Platinum, which is majority owned by Anglo American, said proceeds from the placement will be used to fund Rustenburg Platinum Mines Ltd.'s share of the Bafokeng Rasimone Platinum Mine joint venture's Styldrift project. Rustenburg Platinum Mines Ltd. is a subsidiary of Anglo American Platinum.

Rustenburg Platinum Mines Ltd. and Royal Bafokeng are partners in the Bafokeng Rasimone Platinum Mine joint venture.

Write to Oliver Griffin at [email protected] and Dimitrios Kontos at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
PLATINUM -0.04% 888.11 Delayed Quote.-2.55%
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Anglo American Platinum Lt Technical Analysis Chart | ANGPY | US03486T2024 | 4-Traders
Managers
NameTitle
Christopher Ivan Griffith Chief Executive Officer & Executive Director
Mohammed Valli Moosa Independent Non-Executive Chairman
Ian Botha Finance Director & Executive Director
Gordon Smith Executive Head-Technical
Richard Matthew Wingfield Dunne Independent Non-Executive Director
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