Lihir completes $212m retail entitlement offer 18-May-07 by AAP
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Gold miner Lihir Gold Ltd has announced the completion of its retail entitlement offer, which has raised $212 million for the company.
The retail entitlement offer closed on May 11 with subscriptions for approximately 65 million new shares.
About 27 million new shares available in the retail offer were sold to institutional investors under a retail bookbuild process conducted yesterday, which achieved a clearing price of $3.15 per share, 85 cents above the offer price.
Lihir said renouncing and ineligible retail shareholders would receive 85 cents per share not taken up, with payment to be sent to shareholders on May 28.
The allotment of new shares under the retail entitlement offer is expected to take place on May 25, with trading commencing the same day, the company said.
Lihir said it had now raised about $1.2 billion in new funds after completion of a $978 million institutional entitlement offer and placement last month.
LHG Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
