Fresnillo places 19.6m shares with existing investor
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.
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.
The group said the proceeds of the placing will be used for general corporate purposes and its working capital needs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
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
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published