Standard Bank orchestrates landmark R44.1bn ECM deal

Source: Supplied. Richard Stout, Head of Equity Capital Markets, South Africa & sub-Saharan Africa at Standard Bank Corporate and Investment Banking (CIB).

The placement, which raised R44.1bn, is the largest Equity Capital Markets (ECM) transaction to have ever taken place on the JSE.

The deal realised Anglo American’s strategy of responsibly divesting its shareholding in Valterra Platinum and simplifying its portfolio to focus on its world-class positions in copper, premium iron ore, and crop nutrients, while the cash proceeds from the sale have added to the strength of the Anglo American balance sheet.

“As the only South African bank within the syndicate, Standard Bank played a key role in unlocking significant anchor demand that helped deliver a sale of the full residual stake,” says Richard Stout, Head: Equity Capital Markets, South Africa; sub-Saharan Africa at Standard Bank Corporate and Investment Banking (CIB).

“The transaction is further evidence of Standard Bank’s ability to provide strategic equity advice and distribute landmark capital markets transactions and reinforces our position as the leading ECM franchise on the continent,” concludes Stout.