Lonmin Sets Price For Rights Issue

Reuters reported Lonmin (LSE:LMI) will set prices for its rights issue to raise $800 million from investors to cut debt and finance recovery from platinum strikes.

As quoted in the market news:

The company is also due to report its results for the year ended September 30 but will not yet be able to answer the question of whether Xstrata (XTA.L), its top shareholder, will sign up to the rights issue, which is fully underwritten.

Click here to read the full Reuters report.