Rio Tinto Is Said to Scrap Plans for Up to $5 Billion Share Sale

Rio Tinto Group has scrapped plans to raise as much as $5 billion in a share sale following pushback from investors, people with knowledge of the matter said.

Executives at the mining giant had floated the possibility of an equity offering in recent investor meetings after announcing its results, the people said, asking not to be identified because the information is private. The fundraising could have been used to help pay for its $6.7 billion takeover of Arcadium Lithium Plc as well as rebalance its shareholding between UK and Australian investors.

Chief Executive Officer Jakob Stausholm said last month that ...