Anglo Starts Cutting Amplats Stake Ahead of Full Exit (1)

Anglo American Plc offered to sell about 13 million shares in Anglo American Platinum Ltd. in a move aimed at increasing the South African firm’s free float ahead of a full exit.

The deal represents about 5% of Amplats’s total issued ordinary shares, London-listed Anglo said in a statement on Tuesday. The British mining group is looking to raise around $400 million through the stake sale, according to a term sheet seen by Bloomberg.

Goldman Sachs Group Inc, Morgan Stanley and Rand Merchant Bank are handling the transaction. Investor demand covered the offer in full shortly after the launch, according ...