Barrick Gold IPO Results for Africa Barrick Gold
While it was a little disappointing and on the low end of what they had hoped for, Barrick Gold (TSE:ABX) raised $887 million in their spinoff of their African buinsess named African Barrick Gold.
Barrick was able to sell 101 million shares in the new company for 575 pence each. The high end of what they had hoped for would have brought them 650 pence a share. The lower end was 550 pence a share, so it wasn't a disaster in that regard.
Africa Barrick Gold entails four mines in Tanzania at this time.
Showing posts with label Barrick IPO. Show all posts
Showing posts with label Barrick IPO. Show all posts
Tuesday, March 23, 2010
Friday, March 19, 2010
Barrick Gold (NYSE:ABX) Prices African Barrick Spinoff
African Barrick IPO
Barrick Gold (NYSE:ABX) announced it will sell shares in African Barrick Gold spinoff for $8.70 each or 5.75 British pounds.
Barrick will sell approximately 101 million common shares in the offering, which at the above price will generate about $834 from the IPO.
They will retain a 75 percent stake in African Barrick Gold.
The reason for creating African Barrick was to get listed on the London Stock Exchange.
After the IPO Barricks will have a market capitalization of about $3.55 billion.
Barrick Gold (NYSE:ABX) announced it will sell shares in African Barrick Gold spinoff for $8.70 each or 5.75 British pounds.
Barrick will sell approximately 101 million common shares in the offering, which at the above price will generate about $834 from the IPO.
They will retain a 75 percent stake in African Barrick Gold.
The reason for creating African Barrick was to get listed on the London Stock Exchange.
After the IPO Barricks will have a market capitalization of about $3.55 billion.
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