JOHANNESBURG (miningweekly.com) – JSE-listed Northam Platinum on Tuesday said a secondary placement of a 13.01% shareholding, or 51.7-million shares, had been oversubscribed.
This followed the strategic exit by ENRC, which deemed the shareholding noncore to its business and disposed of it through a bookbuild led by One Capital as sole bookrunner.
The stake was placed at a price of R48.25 a share, representing a total transaction value of about R2.5-billion.
“We are very pleased to again see the strong institutional support for Northam in a difficult platinum market,” said CEO Paul Dunne.