TORONTO – Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced that it has sold 79,268,800 shares of Shandong Gold Mining Co., Ltd. at a price of HK $20.50 per share for gross proceeds of approximately $210 million.
Barrick purchased the shares during the fourth quarter of 2018 at a cost basis of HK $10.50 per share.
Barrick continues to hold 10,250,000 shares of Shandong Gold, representing a 2.05% interest in Shandong Gold’s Hong-Kong listed (H-class) shares, re-affirming its commitment to the strong existing long-term strategic partnership between the two companies.
The shares were sold by an accelerated book building process and were placed primarily with new and existing institutional shareholders of Shandong Gold.
Morgan Stanley & Co. International plc acted as Barrick’s Sole Placing Agent for the process.
A Disclosure of Interests form will be filed by Barrick in accordance with Hong Kong securities laws.
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