The greater balance sheet flexibility provided by the deal will ensure the company can endure ‘any exogenous socio-economic challenges’
Sibanye CEO Neal Froneman. Picture: SUPPLIED
The miner had planned to raise R1.8bn in a share placement to position itself for platinum sector wage talks and to restructure its gold mines. The placement, with existing and new institutional investors, represents 5% of its issued shares. Sibanye is clearly worried about its ability to manage its debt obligations in the near term, but the amount raised will not move them significantly into the black, Geldenhuys said.
“It is pleasing to note the significant oversubscription of the transaction, which is testament to the strong market support for our company.” .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
15 amazing ways to experience TurkeyThe country is so vast and varied, it truly has something for everyone, from rand-friendly family holidays to gourmet sailing to biking adventures
Read more »
Justice at last as Durban cigarette truck hijackers sentenced to 15 yearsFour men were sentenced by the Durban regional court for the 2015 hijacking of a British American Tobacco truck on Friday.
Read more »
Man jailed for 15 years for gang-rape of girl in Eastern CapeThree men dragged a girl, who was on her way to her boyfriend, into a nearby house and gang-raped her.
Read more »
Justice at last as Durban cigarette truck hijackers sentenced to 15 yearsFour men were sentenced by the Durban regional court for the 2015 hijacking of a British American Tobacco truck on Friday.
Read more »
World's deepest indoor dive pool will be as deep as a 15-storey buildingThe world's deepest indoor pool is set to open in Poland this fall and will allow swimmers to dive 45 meters below the surface.
Read more »
DJ Zinhle on family, celebrity life and 15 years of musicAfter 15 years in the music industry and life in the spotlight, DJ Zinhle is ready to take her career and life to the next level with her music and finding peace amid the storms, writes Rhodé Marshall.
Read more »
Eastern Cape man gets 15 years in prison for murder of his brotherAndile September stabbed his brother after following an argument over money.
Read more »
Justice at last as Durban cigarette truck hijackers sentenced to 15 yearsFour men were sentenced by the Durban regional court for the 2015 hijacking of a British American Tobacco truck on Friday.
Read more »
Alexandra vows to shut down Sandton on MondayMeanwhile, Joburg Mayor Herman Mashaba said he would meet with the community on April 15.
Read more »
Parts of Maboneng to go under hammerThe Johannesburg inner city neighbourhood attracted investment from major institutions including RMH and Nedbank
Read more »