Friday May 9, 08:27 AM
Fresnillo raises £905m in London float
LONDON (ShareCast) - Mexican gold and silver producer Fresnillo raised £905m in an initial public offering priced at 555p a share. With a market capitalisation of about £3.98bn, the group said it expects to be considered for
inclusion in the FTSE Index.Fresnillo intends to use the proceeds to re-pay existing debt and to help achieve growth through the delivery of its projects pipeline and expansion of its existing operations.
"The board and the management team are delighted by the level and quality of investor demand in the current market environment," said chief executive Jaime Lomelin. "We view this as a sign of confidence in Fresnillo's exciting future," he added. Conditional trading has commenced on the London Stock Exchange (LSE: LSE.L - news) 's main market today.
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