JOHANNESBURG (miningweekly.com) – Sibanye Gold has finalised the terms of its $1-billion rights offering.
The company will offer shareholders 1.2-billion new shares at R11.28 a share – a 60% discount on the closing price of shares on May 17.
The rights offer will open on May 29 and close on June 9.
The proceeds will be used to repay a portion of a $2.65-billion loan facility that was used to acquire US platinum producer Stillwater Mining.