FRIDAY, 11.30AM
RANDGOLD Resources, the offshore arm of Randgold & Exploration, is to raise between $120-million and $160-million when it lists on the London Stock Exchange later this month to fund gold expansion projects.
Following research on the listing by a consortium of banks, 7-million new shares in Randgold Resources will be offered at a conservative $18 to $23 a share.
The listing is intended to provide exploration capital to fund an aggressive strategy to start a new gold venture every 18-24 months.