{"id":16522,"date":"2012-11-08T20:43:21","date_gmt":"2012-11-08T18:43:21","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/lonmin-to-price-800-million-share-offer-on-friday\/"},"modified":"2012-11-08T20:43:21","modified_gmt":"2012-11-08T18:43:21","slug":"lonmin-to-price-800-million-share-offer-on-friday","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/lonmin-to-price-800-million-share-offer-on-friday\/","title":{"rendered":"Lonmin to price $800 million share offer on Friday"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Set to detail terms of rights issue on Friday<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Lifeline key to cutting debt, financing growth<\/p>\n<p><span><\/span><\/p>\n<p>* Lonmin expected to post pre-tax loss for year<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Nov 8 (Reuters) &#8211; South African miner Lonmin<br \/>\nis set to price its rights issue on Friday to raise up to $800<br \/>\nmillion from investors to help cut debt and finance its recovery<br \/>\nafter six weeks of deadly strikes at its platinum mines.<\/p>\n<p><span><\/span><\/p>\n<p>The company is also due to report its results for the year<br \/>\nended Sept. 30 but will not yet be able to answer the question<br \/>\nof whether Xstrata, its top shareholder, will sign up to<br \/>\nthe rights issue, which is fully underwritten.<\/p>\n<p><span><\/span><\/p>\n<p>Xstrata, which is still in the throes of being taken over by<br \/>\nits own largest shareholder Glencore, is still<br \/>\nconsidering its position and whether it will invest to maintain<br \/>\nits 25 percent holding in Lonmin which it was left with after a<br \/>\nfailed takeover attempt four years ago.<\/p>\n<p><span><\/span><\/p>\n<p>Glencore has little appetite for platinum, sources familiar<br \/>\nwith the matter have said, and prices are far off their 2008<br \/>\npeak.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Nothing has been said yet. (Xstrata) have always played<br \/>\ntheir cards very close to their chest,&#8221; said one source familiar<br \/>\nwith the situation.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Xstrata have got other situations going on in the<br \/>\nbackground, which may or may not influence their involvement.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Set to detail terms of rights issue on Friday * Lifeline key to cutting debt, financing growth * Lonmin expected to post pre-tax loss for year LONDON, Nov 8 (Reuters) &#8211; South African miner Lonmin is set to price its rights issue on Friday to raise up to $800 million from investors to help [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16522","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16522"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}