Bank of America Merrill Lynch, Stifel Nicolaus assist company with fundraising
By Devika Patel
Knoxville, Tenn., Dec. 9 - Centamin Egypt Ltd. said it completed a private placement of shares. The deal priced early Thursday morning and was concluded three hours later; the company raised £86.01 million.
The company sold 51,502,917 ordinary shares 167p per share. The price per share is a 7.17% discount to the Dec. 8 closing share price of 179.9p.
Bank of America Merrill Lynch was the bookrunner, and Stifel Nicolaus & Co. was the co-manager.
Proceeds will be used for general corporate and working capital purposes as the company pursues its growth strategy.
The gold explorer is based in Mount Pleasant, Australia.
| Issuer: | Centamin Egypt Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £86,009,871
|
| Shares: | 51,502,917
|
| Price: | 167p
|
| Warrants: | No
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Settlement date: | Dec. 9
|
| Stock symbol: | London: CEY
|
| Stock price: | 169.3p at close Dec. 9
|
| Market capitalization: | £1.84 billion
|
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