Business
Announcement of Offer Price
Announcement of Offer Price.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n Hochschild Mining PLC\n03 November 2006\n\n\nThe information contained herein is restricted and is not for release or\ndistribution, directly or indirectly, in or into the United States, Australia,\nCanada or Japan or to residents or citizens of Australia, Canada or Japan.\n\n\nThis announcement is an advertisement and not a prospectus and investors should\nnot subscribe for or purchase any shares referred to in this announcement except\non the basis of information in the prospectus to be published by Hochschild\nMining plc (the 'Company') in due course in connection with the admission of the\nordinary shares in the capital of the Company ('Ordinary Shares') to the\nOfficial List of the Financial Services Authority and to trading on London Stock\nExchange plc's main market for listed securities (the 'Prospectus'). Copies of\nthe Prospectus will, following publication, be available from Hochschild Mining\nplc's registered office at One Silk Street, London EC2Y 8HQ.\n\n-------------------------------------------------------------------------------\n\n\n3 November 2006\n\n\n Hochschild Mining plc\n ('Hochschild Mining' or the 'Company')\n \n Announcement of Offer Price of 350 pence per Ordinary Share\n \n\nHochschild Mining plc, a leading precious metals producer, today announces the\nsuccessful pricing of its initial public offering to institutional investors in\nthe UK and elsewhere of Ordinary Shares on the Main Market of the London Stock\nExchange (the 'Global Offer').\n\nThe offer price has been set at 350 pence per Ordinary Share (the 'Offer\nPrice').\n\n• Based on the Offer Price, the market capitalisation of Hochschild Mining\n immediately following the Global Offer will be approximately £1,076 million.\n Assuming FTSE index inclusion, and based on current market valuations,\n Hochschild Mining would rank number 99 in the FTSE 250.\n\n• The Global Offer comprises approximately 77.3 million new Ordinary\n Shares, representing approximately 25% of the 307.4 million Ordinary Shares in\n issue following completion of the Global Offer.\n\n• The total gross proceeds of the Global Offer are expected to be\n approximately £270 million. The principal use of the proceeds to be received by\n Hochschild Mining is to maximise the potential of its existing operations, to\n achieve growth through delivery of its project pipelin...