Barrick partially cashes its investment in Shandong Gold
Barrick Gold Corporation has announced that it has sold 79,268,800 shares of Shandong Gold Mining Co., Ltd., for gross proceeds of approximately US$210 million. Barrick purchased the shares in the fourth quarter of 2018.
Barrick has gold and copper mining operations and projects in 13 countries in North and South America, Africa, Papua New Guinea, and Saudi Arabia. Its diversified portfolio spans many of the world’s prolific gold districts and is focused on high-margin, long-life assets.
Barrick continues to hold 10,250,000 shares of Shandong Gold, representing a 2.05% interest in Shandong Gold’s Hong-Kong listed (H-class) shares, re-affirming its commitment to the strong existing long-term strategic partnership between the two companies.
The shares were sold by an accelerated book building process and were placed primarily with new and existing institutional shareholders of Shandong Gold.
Morgan Stanley & Co. International plc acted as Barrick’s Sole Placing Agent for the process.
A Disclosure of Interests form will be filed by Barrick in accordance with Hong Kong securities laws.
