By Devika Patel
Knoxville, Tenn., March 22 - Ivanhoe Mines Ltd. said it raised C$244.65 million in a private placement of stock. The deal priced on March 1.
The company sold 15 million common shares at C$16.31 apiece to Rio Tinto.
Proceeds will be used to purchase mining and milling equipment.
Ivanhoe is a mining company based in Singapore.
| Issuer: | Ivanhoe Mines Ltd.
|
| Issue: | Common shares
|
| Amount: | C$244.65 million
|
| Shares: | 15 million
|
| Price: | C$16.31
|
| Warrants: | No
|
| Investor: | Rio Tinto
|
| Pricing date: | March 1
|
| Settlement date: | March 22
|
| Stock symbol: | Toronto: IVN
|
| Stock price: | C$16.97 at close March 1
|
| Market capitalization: | C$6.97 billion
|
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