4th Jun 2015 13:25
LONDON (Alliance News) - First Quantum Minerals Ltd Thursday said it has completed the public offering of shares in the company and raised CAD1.44 billion as a result.
The mining and metals company said the overnight-marketed public offering resulted in over 88.4 million shares being issued at a price of CAD16.25 per share.
The majority of the proceeds will be used to clear net debt and reduce the company's finance costs and to develop its existing production facilities and projects. It also said it will "further enhance" its growth pipeline.
First Quantum shares were up 0.5% to 929.00 pence per share on Thursday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
FQM.L