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
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
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How to invest in nuclear power
We need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
By Dominic Frisby Published
-
Chase slashes its easy-access savings rate – is it time to switch?
The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
By Katie Williams Published