Royal Bafokeng Platinum to list next month

2010-10-18 09:25

Royal Bafokeng Platinum intends listing on the main board of the JSE Limited from November 8 and will trade in the platinum and precious metals sector, the company said today.

“It is currently estimated that the price at which the shares will be offered for sale and subscription pursuant to the pre-listing statement will be between R56 and R65 per offer share,” the company said.

Royal Bafokeng Platinum is owned by a community totalling 300 000 people. Its main asset is a 67% stake in a joint venture between itself and Anglo Platinum, the world’s biggest platinum producer.

The company said the joint venture was well-positioned to capitalise on the anticipated improvement in the platinum group metals sector’s strong supply and demand fundamentals.

Furthermore, the joint venture’s operations and planned expansion and replacement projects were situated in the largest platinum group metals enriched zone in the world.

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