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Tharisa PLC - Cyprus-headquartered platinum miner focusing on southern Africa - Delays its bond to raise $50 million by a little over a week due to strong demand. The proceeds will be used to part fund the Karo Platinum Project in Zimbabwe. The bond will be listed on the Victoria Falls Stock Exchange. Says its subsidiary Karo Mining Holdings PLC, which will issue the bond, has received ‘strong’ interest from certain institutions in the final internal approval processes for participation. To accommodate these potential investors and to ensure administrative processes are completed, the offer window for the application of notes in the bond has been extended to December 9 from Wednesday.
Current stock price in London: 106.95 pence, up 1.9% on Wednesday
12-month change: down 9.8%
Current stock price in Johannesburg: R 22.00, down 2.2%
12-month change: down 19%
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