Mining group Fresnillo has announced plans to issue just over 19.6m shares - equal to around 2.74 per cent of the current shares in the company - to funds and accounts managed by First Eagle Investment Management, an existing shareholder.
The shares will be subscribed for at a price of 1,130p each, marking a 1.99% discount to the closing price on April 26th.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mario Arregun, Chief Financial Officer of the Company said: "We are pleased that First Eagle, one of the company's largest existing shareholders has agreed to increase its shareholding in the company. We have made clear that we value our inclusion in the FTSE index and this placing will ensure that we retain that position."
NR
-
Buying vs renting: is is better to own or rent your home?The higher mortgage rates of recent years have actually made renting comparatively cheaper, analysis suggests
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
