Barrick sells Highland stake to institutional investor for 79.5 mln pounds
MOSCOW. April 26 (Interfax) - Canada's Barrick Gold Corporation has sold its stake in Highland Gold Mining (HGM), which is developing Russian gold deposits, to an institutional investor for 79.5 million pounds sterling, HGM said in a statement posted on the London Stock Exchange.
"Further to the announcement of 13 February 2012, Highland Gold has today received confirmation of the completion of Barrick's sale of 66,235,264 ordinary shares in Highland Gold (the "shares"), representing Barrick's entire holding in the Company and 20.37% of the company's issued share capital," HGM said in the statement.
"The share sale was completed today by way of an accelerated bookbuild with institutional investors and effected at a price of 120 pence per share. The company welcomes the increase in its free float and looks forward to engaging with its new shareholders," HGM said.