Australian-listed Anaconda Nickel Ltd has revised the terms of its planned rights issue, increasing the gross proceeds to A$140.3 million but reducing the issue price to A$1.55/share.(Brief Article)(Statistical Data Included)

Mining Journal, July, 2001

* Australian-listed Anaconda Nickel Ltd has revised the terms of its planned rights issue, increasing the gross proceeds to A$140.3 million but reducing the issue price to A$1.55/share. The issue will be underwritten by Glencore International AG of Switzerland. The total fee is 2.5% of gross proceeds.

Glencore is a major shareholder in Anaconda, with 22.75%, and is the company's 40% joint-venture partner in the Murrin Murrin lateritic nickel project in Western Australia. The rights issue was part of an agreement to settle differences between Anaconda's management and Anglo American plc, the company's largest shareholder with 25.4%, and Anaconda originally secured an underwriting agreement with Glencore to raise A$92.7 million, at A$2.00/share (MJ, June 1, p.413)....

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