mineral resources
Kazakhmys issued new shares
(SRI) - Kazakh London-based copper producer Kazakhmys Plc has issued 80,286,050 new shares to be given to the Kazakh government in exchange for its share in Eurasian Natural Resources Corporation Plc (ENRC), the company said in a statement on Thursday, Interfax reported.
In June, Kazakhstan agreed to acquire a 1.31 billion-pound ($2.57 billion) stake in Kazakhmys Plc, the country’s largest copper producer, in return for part of its interest in ENRC. As a result of the transaction, Kazakhmys will acquire a 22.24% stake in ENRC.
The face value of the shares is 20 pence and trading commenced on the London Stock Exchange (LSE) on Thursday. The new issue brings the company’s increased charter capital comes to 535,240,338 common shares.
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