AngloGold Shakes Up Mining Sector With $2.1B Share Sale

Mani

Published onSeptember 11, 2014

Updated on May 13, 2021

AngloGold Ashanti Limited (ADR) (NYSE:AU) (JSE:ANG) announced a $2.1 billion share sale Thursday in a move to separate its international business into a London-listed company, leaving the South African gold miner to focus on labor-intensive mines at home.

The gold miner will retain a 65% interest in the new company.

Debt free after the split

Unveiling the restructuring move, AngloGold Ashanti Limited (ADR) (NYSE:AU) (JSE:ANG)’s chief executive officer Srinivasan Venkatakrishnan said proceeds from the rights issue will be used to repay net debt of about $3.1 billion and the...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

AngloGold Shakes Up Mining Sector With $2.1B Share Sale

Debt free after the split

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