Anglo American set to list South African platinum business
Mining giant Anglo American is set to announce that it is planning to list its South African platinum operations, according to reports.
Anglo American
2,205.00p
16:45 24/04/24
4.45%
94.00p
FTSE 100
8,040.38
16:34 24/04/24
n/a
n/a
FTSE 350
4,419.71
17:09 24/04/24
n/a
n/a
FTSE All-Share
4,374.06
16:44 24/04/24
n/a
n/a
Mining
10,520.27
17:09 24/04/24
1.74%
180.29
The group, which has spent the past year trying to find a buyer for the business, will not carry out the float until next year, sources cited by the Sunday Times said.
According to the insiders, the change of plan comes after the last potential bid fell significantly below the company's expectations.
The company said: "We have been following two processes - a sale and a float. We plan to decide by mid-year which way to go."
Anglo has previously stated its goal to raise between $3bn and $4bn through asset sales.