logo-loader
viewRio Tinto plc

Rio Tinto rights issue receives strong support with 97% take up

mining350_4a4c54fa3fed3.jpg

Rio Tinto (ASX: RIO), the world’s third largest mining company, sold nearly all (97 percent) of the London listed shares on offer in a $15.2 billion sale to reduce debt.

Rio rejected a $19.5 billion investment proposal from its biggest shareholder Chinalco of China last month and instead opted for the share sale and an iron ore joint venture with BHP Billiton Ltd. Chinalco, as the state-owned company is known, confirmed today that its took up its rights in the share sale.

Its major shareholder, China's state-owned Chinalco, later said it had taken up its full entitlement to the offer, which ranks as the fifth-biggest on record. It was a sign that Chinalco was far from severing ties with Rio Tinto.

Rio was trading at $52.28, up 1.32% on the ASX.

London-based Rio offered existing shareholders the right to buy 21 new shares for every 40 they hold at 1,400 pence for its London shares and A$28.29 for its Sydney shares.

Quick facts: Rio Tinto plc

Price: 4201.5 GBX

LSE:RIO
Market: LSE
Market Cap: £52.79 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Perseus Mining registers golden half-year with net profit after tax up 193%

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) CEO and managing director Jeff Quartermaine updates Proactive on the West African gold producer’s strong half yearly performance. The company produced almost 135,000 ounces of gold at around US$942 an ounce resulting in the generation...

5 hours, 19 minutes ago

2 min read