https://www.miningweekly.com

Harmony Gold raises R1.05bn to help settle Moab Khotsong loan

6th June 2018

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Gold miner Harmony Gold has raised R1.05-billion, or $82-million, through the placing of 55-million new ordinary shares with existing and new institutional investors at a price of R19.12 apiece.

The placing, first announced on Tuesday, was aimed at raising up to R1.26-billion, or $100-million.

The net proceeds of the placing will be used to pay down part of the outstanding $150-million bridge loan raised for the acquisition of Moab Khotsong, in North West, from AngloGold Ashanti, which concluded end-February for a total consideration of R3.5-billion.

In addition to the placing shares, African Rainbow Minerals – Harmony’s strategic black economic empowerment partner – has agreed to subscribe for about 11-million shares at the placing price to ensure that its current shareholding of 14.29% is maintained.

Harmony’s issued share capital now comprises more than 500-million shares.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION