Sibanye share price drops nearly 14%, despite raising R1.7bn in share offer | Fin24
] share price slumped nearly 14% on Wednesday morning, after announcing that it raised approximately R1.7bn through a share offering.
However, the share price which opened at R15.70 on Wednesday morning was trading 13.94% lower at R14.63 by 10:30. "While we remain confident that the current operating and economic conditions will support our deleveraging plans during the course of the year, the enhanced balance sheet flexibility provided by this transaction, will ensure that the company is appropriately positioned and sufficiently robust to endure any exogenous socio-economic challenges," he said of the offering.Sibanye will make an application to the JSE for the listing of the shares.
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