African Barrick Gold to float at 575p

By The Newsroom

Published 19th Mar 2010, 20:26 BST

Updated 19th Mar 2010, 20:34 BST

AFRICAN Barrick Gold priced its initial public offering (IPO) at 575p per share yesterday, at the bottom end of the 550p to 650p range.

The price for ABG, the biggest flotation in London in almost two years, values the company at about 2.3 billion pounds. London-headquartered ABG is likely to be admitted to the FTSE 100 Index.

Parent firm Barrick Gold Corp – the world's largest gold miner – is selling 100 million shares, a quarter of ABG, keeping the rest.

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