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Xstrata launches GBP4bln cash call to pay down debts

Posted on 30 January 2009

From Independent: Xstrata, the Swiss mining giant whose shares are listed on the London Exchange, wants to raise $5.9bn (£4.1bn) in order to pay off debt and buy a coal mine from its major shareholder.

Xstrata plans to issue almost 2 billion shares at a price of £2.10, some 66 per cent lower than Wednesday’s 623p closing price, the company revealed yesterday. …. Full Article: Source


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VRS - who has written 38089 posts on Opalesque Commodities Briefing.


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