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
ZAR/USD
14.99
(+0.96)
ZAR/GBP
20.39
(+0.87)
ZAR/EUR
18.16
(+0.70)
ZAR/AUD
11.55
(+0.76)
ZAR/JPY
0.14
(+1.36)
Gold
1842.00
(+0.36)
Silver
25.32
(+1.46)
Platinum
1099.00
(+1.26)
Brent Crude
54.74
(-0.64)
Palladium
2380.50
(+0.85)
All Share
63772.62
(+0.09)
Top 40
58587.02
(+0.07)
Financial 15
11919.91
(+0.13)
Industrial 25
85001.80
(+0.22)
Resource 10
63134.38
(-0.13)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 678 votes
No, I did not.
52% - 1688 votes
My landlord refused
28% - 900 votes
Vote