Anglo Boosted Valterra Stake Sale Size Following Strong Interest

Anglo American Plc upgraded plans to sell a stake in Valterra Platinum Ltd to a full exit on the back of strong investor demand, resulting in one of South Africa’s largest-ever stock offerings, according to people familiar with the matter.

Anglo started sounding out investors on Tuesday to gauge their appetite for a potential block sale, the people said, who asked not to be named to discuss private information. Investor feedback, particularly from South African institutions, gave Anglo the confidence to increase the size of the offering to cover its entire stake, almost 20% of Valterra’s share capital, the people ...