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Industry: Email Alert RSS FeedSouth Africa: Mining company launches program
Global Finance, Sep 2003 by Platt, Gordon
GLOBAL DEPOSITARY RECEIPTS
Johannesburg-based Metorex, a diversified mining company, launched a Level IADR program in the US over-the-counter market, Bank of New York announced as depositary.
Each ADR is equivalent to one common share. Metorex is listed on the JSE Securities Exchange in South Africa and on the London Stock Exchange.
The company operates copper, antimony, gold, zinc, manganese, fluorospar and coal mines in South Africa and Zambia.
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Effective June 15, Metorex acquired a 54% stake in the ETC gold-mining assets of Avgold. Metorex issued 36 million new shares to fund the deal. -Gordon Platt
Copyright Global Finance Media Inc. Sep 2003
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