AngloGold announces rights issue

Published: September 1, 2009

South African gold miner AngloGold Ashanti plans a rights issue to part-fund its acquisition of a stake in Moto Goldmines.

The company will offer 7.8mn new shares and American depositary receipts to raise US$284mn.

AngloGold announced in July that it had agreed to buy Moto alongside West African peer Randgold for C$546mn (US$500mn). Randgold funded its part of the deal with the issue of 5mn shares at the end of July.

UBS is acting as sole bookrunner for AngloGold’s offering.