Anglo American Plc raised 9.6 billion rand ($530 million) from the sale of a 6.6% stake in Anglo American Platinum Ltd., a move aimed at increasing the South African unit’s free float ahead of a full exit.

Anglo American has completed an accelerated bookbuild offering, raising ZAR9.6 billion to support the strategic demerger of Anglo American Platinum.

Anglo American South Africa, a division of the diversified mining company Anglo American, has divested a 6.6% stake in Anglo American Platinum (Amplats), a platinum group metals (PGM) miner. The transaction involved the sale of 17.

Anglo American Plc is selling another 6% of its platinum business in a move aimed at increasing the South African unit’s free float ahead of a full exit.

Anglo American Plc raised R9.6 billion ($530 million) from the sale of a 6.6% stake in Anglo American Platinum, a move aimed at increasing the South African unit’s free float ahead of a full exit.