AngloGold Ashanti announces $419m share capital increase on GSE
Gold mining company, AngloGold Ashanti (AGA) has announced a share capital increase of 419,742,000 on the Ghana Stock Exchange (GSE).
The nominal value per share of the 419,742,000 shares announced by AGA is pegged at $1.
The nominal value of a share implies the minimal price a share would be sold for at the initial issuance stage, the price has no bearing on the real or market price (the price at which investors are willing to pay for the share) of the share, as it is mainly used for balance sheet purposes.
AGA already has over 418.7 million shares listed on the GSE with a share price of GHS 37 thereby translating into a market capitalization of over GHS 15.4 billion.
Earnings per share of the equity at end-June 2023 stood at GHS 4 with the company’s price-to-earnings ratio currently pegged at 9 which is a favourable indication of investors’ confidence in the company’s ability to grow its income stream in the near term.
According to the GSE, the new shares by AGA will be listed on the GSE in the coming days.
