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African Barrick Gold to raise £581m
Fri, 19th Mar 2010 13:48
African Barrick Gold, Tanzania's biggest gold producer, will raise about £581m on the London Stock Exchange after pricing its initial public offering at 575 pence.
Based on the offer price, the group's market capitalization will be around £2.3bn, making it the biggest IPO in London since New World Resources listed two years ago.
Conditional trading has commenced on the main market today, while unconditional trading will begin next week.
"We are delighted with the strong support received for the IPO of African Barrick Gold, and are especially pleased by the level and quality of investor demand in the current market environment," said chief executive Greg Hawkins.
"The collective support of these investors provides us with a strong financial position from which to pursue our growth strategy through exploration, potential acquisitions and the development of advanced-stage projects."
Based on the offer price, the group's market capitalization will be around £2.3bn, making it the biggest IPO in London since New World Resources listed two years ago.
Conditional trading has commenced on the main market today, while unconditional trading will begin next week.
"We are delighted with the strong support received for the IPO of African Barrick Gold, and are especially pleased by the level and quality of investor demand in the current market environment," said chief executive Greg Hawkins.
"The collective support of these investors provides us with a strong financial position from which to pursue our growth strategy through exploration, potential acquisitions and the development of advanced-stage projects."
