Congo’s Gecamines offers $1 million to block Chinese deal with Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
JOHANNESBURG, June 5 (Reuters) – South Africa’s Harmony Gold said on Tuesday that it would sell new shares to raise up to 1.26 billion rand ($98.75 million) through an accelerated book-building.
The proceeds will be used to used to pay down part of Harmony Gold’s outstanding $150 million bridge loan raised for the acquisition of the Moab Khotsong mine.
The size of the new share placement represents around 15 percent of the firm’s ordinary share capital as of the market close on June 5, Harmony Gold added in a statement.
($1 = 12.7600 rand)
(Reporting by Alexander Winning; Editing by Tiisetso Motsoeneng)
