Barrick gold to sell 41M shares of African Barrick; stock valued at some C$233M

TORONTO – Barrick Gold Corp. (TSX:ABX) says it intends to divest part of its holdings in African Barrick Gold plc.

Barrick says about 41 million ordinary shares it indirectly holds in African Barrick, representing about 10 per cent of the company, will be placed with institutional investors.

Based on Monday’s closing price of African Barrick (LON:ABG) on the London Stock Exchange of just over three British pounds, the value of the stock would be about more than C$233 million.

Barrick Gold said the shares being divested represent about 13.5 per cent of its holdings in ABG.