Amplats raises R390m through sale of Royal Bafokeng Platinum shares

Anglo American Platinum [JSE:AMS] announced on Wednesday that it has raised R390m by selling 17.3 million shares in Royal Bafokeng Platinum [JSE:RBP]

The shares were sold at a price of R22.50 per placing share. By 11:00 shares in Royal Bafokeng Platinum had fallen 6.8% to trade at R23.45. Shares in Anglo American Platinum, meanwhile, were down 1% at 11:00 at R345.98. 

Following the placing, Amplats said it would continue to hold about 2.6% of the total number of Royal Bafokeng Platinum’s ordinary shares in issue.

"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," it said in a statement. 

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER


We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
15.10
+0.9%
Rand - Pound
20.46
+0.1%
Rand - Euro
17.13
+0.0%
Rand - Aus dollar
10.85
-0.1%
Rand - Yen
0.13
+0.1%
Gold
1,834.71
0.0%
Silver
24.29
0.0%
Palladium
2,111.50
0.0%
Platinum
1,034.00
0.0%
Brent Crude
87.89
-0.6%
Top 40
68,186
-2.1%
All Share
74,835
-1.9%
Resource 10
74,924
-3.0%
Industrial 25
94,147
-1.8%
Financial 15
15,076
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot