By Devika Patel
Knoxville, Tenn., Jan. 21 - African Minerals Ltd. said it will raise £80 million in a private placement of shares.
The company will sell 20 million common shares at 400p each.
Settlement is expected Feb. 11.
Proceeds will be used for the construction of key infrastructure at the company's flagship iron ore project at Tonkolili.
Based in London, African Minerals is a mineral exploration company with significant interests in Sierra Leone, West Africa.
| Issuer: | African Minerals Ltd.
|
| Issue: | Common shares
|
| Amount: | £80 million
|
| Shares: | 20 million
|
| Price: | 400p
|
| Warrants: | No
|
| Pricing date: | Jan. 21
|
| Settlement date: | Feb. 11
|
| Stock symbol: | London: AMI
|
| Stock price: | 409.5p at close Jan. 21
|
| Market capitalization: | £876 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
