AngloGold To Offer 7.8 Million Shares To Fund Moto Acquisition
September 01 2009 - 3:18AM
Dow Jones News
AngloGold Ashanti Ltd. (AU), the world's third-largest producer
of the precious metal, Tuesday said it plans to offer about 7.8
million new shares to fund the planned acquisition of a 50% stake
in Moto Goldmines Ltd. (MGL.T).
The Johannesburg-based company said the offering would be in the
form of ordinary shares and American depositary shares that will
represent ordinary shares. UBS Investment Bank is acting as sole
bookrunner for the offering.
AngloGold and Africa-focused gold producer Randgold Resources
Ltd. (GOLD) in July said they would jointly buy Moto, whose main
asset is a project in the Democratic Republic of Congo.
The company said the proceeds from the offering would fund its
proposed acquisition of a 50% indirect interest in Moto, including
its share of certain other liabilities and expenses.
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com