Impala Platinum Raises $297 Million Through Share Placement
- World's No. 2 platinum producer places 102.6 million shares
- Platinum price has declined 51% since August 2011 peak
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Impala Platinum Holdings Ltd., the world’s second-biggest producer of the precious metal, raised about 4 billion rand ($297 million) through a share sale.
The company placed 102.6 million shares at 39 rand each, or 7.1 percent less than Tuesday’s closing price, Johannesburg-based Impala said in a statement Wednesday. The stock represents about 16 percent of the producer’s issued ordinary share capital before the placement.