Shareholders turn out for London Mining

25 Jan 2012

London Mining on Tuesday raised $90m in 90 minutes in an accelerated bookbuild aimed at existing shareholders, to fund growth plans.

The £320m market capitalisation iron ore miner sold 22.7m new shares — 19.9% of the pre-deal share capital — at 255p each, a 4.5% discount to Monday’s close. The deal was launched at 11.30am on Tuesday following pre-marketing with key shareholders on Monday and Tuesday morning, and the ...

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