Ivanhoe
Mines IVNIVN announced today that the
company intends to launch a rights offering in which all existing shareholders, subject to applicable law, may participate on an equal
and proportional basis in purchasing additional common shares. The
offering is expected to raise up to approximately US$1.8 billion in
gross proceeds.
The rights offering is part of the comprehensive financing plan to
continue the development of the Oyu Tolgoi Project, and was the
subject of a memorandum of agreement reached with majority
shareholder Rio Tinto on April 18, 2012. Ivanhoe Mines and Rio Tinto
have agreed to amend certain terms of the memorandum of agreement.
The amended terms address conditions of regulatory approval and more closely align the terms of the proposed rights offering with current
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