Barrick Gold Corp. announced it will raise about US$834-million from the initial public offering of its African subsidiary. Barrick Gold Corp trades on the “New York Stock Exchange’ under the Stock Symbol “ABX”. For the Latest information regarding “ABX”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Barrick Gold Corp. (NYSE:ABX) announced it will raise about US$834-million from the initial public offering of its African subsidiary.
The new company, called “African Barrick Gold PLC”, will start trading on the London Stock Exchange shortly after the transaction closes next week. An offer price of GBP 5.75 has been set.
"As an Africa-focused public company, we believe that African Barrick Gold will be better positioned to generate shareholder value from its operating platform, value which Barrick will continue to benefit from as a majority shareholder," chief executive Aaron Regent said in a statement.
"African Barrick Gold's range of growth options and ability to finance those options will be expanded and the intensity with which these options will be pursued will be improved."
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