Anglo American raises R9.6bn from sale of Amplats stake

The mining group sold 17.5m shares in Amplats at a price of R548 apiece, Anglo said.

Anglo American Plc raised R9.6 billion ($530 million) from the sale of a 6.6% stake in Anglo American Platinum, a move aimed at increasing the South African unit’s free float ahead of a full exit.

The mining group sold 17.5 million shares in Amplats at a price of R548 apiece, Anglo said in a statement on Wednesday. It follows a smaller selldown in September.

Anglo announced plans to exit its controlling stake in Johannesburg-listed Amplats in May. It’s part of a wider restructuring program that was unveiled in response to an unsolicited $49 billion takeover proposal by BHP Group.

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Read: Anglo American to sell 6.6% of Amplats ahead of spinoff

Anglo also said earlier this week it agreed to sell its coal business in a deal that could be valued at as much as $3.78 billion. The company also plans to exit nickel mining and divest or spin off its De Beers diamond unit.

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