Newmont takes equity route

摘要

Stock sales by gold miners are rare, particularly after the precious metal's circa 40% slide over the past four years. Lately, big acquisitions are not too common either. One of the world's producers of the shiny metal, newmont mining, completed both last week. Newmont on Tuesday night priced an offering of 29m shares at US$23.50, versus US$24.41 last sale and US$25.81 at launch, after a day of marketing, through joint bookrunners Citigroup and JP Morgan. The 9% file-to-offer reflected mixed views on the use of proceeds. The stock is funding the vast bulk of Newmont's US$820m purchase of the Cripple Creek and Victor gold mine in Colorado from AngloGold Ashanti.