African Barrick Gold prices London flotation at bottom end of range

By Garry White 530PM GMT nineteen Mar 2010

The organisation lifted �581m forward of the listing, the largest in London given New World Resources floated in May 2008.

The marketplace capitalisation of ABG rught away following the fundraising is approaching to be we estimate �2.3bn, that equates to the organisation is a claimant for entrance in to the FTSE 100 at the subsequent reshuffle in June.

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Canadian-listed Barrick Gold, the largest bullion miner in the world, is spinning off the Tanzanian resources in to ABG. Barrick will own a 75pc interest in the group, nonetheless there an over-allotment grant if direct is strong, that could see a serve 10pc of the equity sold.

"We are gay with the clever await perceived for the IPO of ABG," pronounced Greg Hawkins, arch executive. "We are generally gratified by the turn and peculiarity of financier direct in the stream marketplace environment."

Trading in the shares is approaching to begin completely on Mar twenty-four on the London Stock Exchange underneath the pitch ABG.

The levity was organised by JP Morgan Cazenove, with Morgan Stanley and Citigroup behaving as corner bookrunners.