Lonmin 'to make $500m cash call'
MINING group Lonmin could announce plans for a rights issue to raise up to $500 million (£332m) as early as this week, according to a Sunday newspaper report.
The exact size of the cash call, which is likely to be priced at a significant discount to Friday's closing share price of 1,622p, the report added, will depend upon demand from institutional investors.
Lonmin, the world's third-biggest platinum producer, is also scheduled to publish first-half results this week.
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Tuesday 14 February 2012
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