Anglo American Raises $530 Million From Amplats Stake Sale (1)

Anglo American Plc raised 9.6 billion rand ($530 million) from selling a 6.6% stake in Anglo American Platinum Ltd., a move aimed at increasing the South African unit’s free float ahead of a full exit.

The mining company sold 17.5 million shares in its platinum-group metals subsidiary for 548 rand apiece, it said in a statement on Wednesday. The number of publicly traded Amplats shares has increased by more than 50% since September, when Anglo completed a smaller selldown.

Anglo announced plans to exit its controlling stake in Johannesburg-listed Amplats in May. It’s part of a wider restructuring program ...