CAPITAL MARKETS

Harmony to clean up Abelle overhang

WITH development of a major new gold mine in Papua New Guinea about to begin Harmony Gold has decided to mop up the minority shareholders of the project’s owner Abelle by offering $2 per share and $1.70 per option - a total of around $120 million.

Michael Quinn

Harmony to clean up Abelle overhang

The offer to minorities comes less than 12 months after Harmony bought out most of the shareholders of the company for substantially less - 75 cents and 45 cents respectively. While no independent assessment...

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