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Additional information
Additional Information
Market: LSE, ASX
Sector: General Mining
Epic: RIO
News: Latest news
Web Site: Rio Tinto
Other Articles: 23-02-201018-02-201012-02-2010

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Rio Tinto

Rio Tinto

Rio Tinto is a leading international mining group, combining Rio Tinto plc, a London listed public company headquartered in the UK, and Rio Tinto Limited, which is listed on the Australian Stock Exchange, with executive offices in Melbourne.

The Group finds, mines and processes the earth's mineral resources - metals and minerals essential for making thousands of everyday products that meet society's needs and contribute to improved living standards.

The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore. Its activities span the world but are strongly represented in Australia and North America. There are also significant businesses in South America, Asia, Europe and southern Africa.

Thursday, July 02, 2009

Rio Tinto sells nearly all of its $15.2 billion rights issue

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Rio Tinto (ASX: RIO), the world’s third largest mining company, sold nearly all (97 percent) of the London listed shares on offer in a $15.2 billion sale to reduce debt.

Rio rejected a $19.5 billion investment proposal from its biggest shareholder Chinalco of China last month and instead opted for the share sale and an iron ore joint venture with BHP Billiton Ltd. Chinalco, as the state-owned company is known, confirmed today that its took up its rights in the share sale.

Its major shareholder, China's state-owned Chinalco, later said it had taken up its full entitlement to the offer, which ranks as the fifth-biggest on record. It was a sign that Chinalco was far from severing ties with Rio Tinto.

Rio was trading at $52.28, up 1.32% on the ASX.

London-based Rio offered existing shareholders the right to buy 21 new shares for every 40 they hold at 1,400 pence for its London shares and A$28.29 for its Sydney shares.
 

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