Standard Bank enables the largest equity capital markets transaction in JSE history
Standard Bank has acted as a joint global coordinator on the divestment of Anglo American’s residual 19.9% stake in Valterra Platinum.
By Standard Bank
Standard Bank, Africa’s largest bank by assets, has acted as a joint global coordinator on the divestment of Anglo American’s residual 19.9% stake in Valterra Platinum. The placement, which raised R44.1 billion (about $2.5 billion), is the largest equity capital markets transaction to have ever taken place on the Johannesburg Stock Exchange.
The deal realised Anglo American’s strategy of divesting its shareholding in Valterra Platinum and simplifying its portfolio to focus on its positions in copper, premium iron ore, and crop nutrients, whilst the cash proceeds from the sale have added to the strength of the Anglo American balance sheet.
“As the only South African bank within the syndicate, Standard Bank played a key role in unlocking significant anchor demand that helped deliver a sale of the full residual stake,” says Richard Stout, Head of Equity Capital Markets, South Africa & Sub-Saharan Africa at Standard Bank Corporate and Investment Banking.
“The transaction is further evidence of Standard Bank’s ability to provide strategic equity advice and distribute landmark capital markets transactions and reinforces our position as the leading equity capital markets franchise on the continent,” added Stout.