Placer Dome raises $452M in stock offer
Nov 24, 2004 | 09:32 AM
| Julie Bresnick
Placer Dome Inc., Vancouver, British Columbia, has raised nearly $452 million through an offering of 21,275,000 common shares at $22 a share.
The company said the proceeds would be used for general corporate purposes, "which may include funding of new project development and other capital expenditures."
"It was a bit of a surprise," one equities analyst said. "Placer had never issued equity before, but given where their shares have been trading, it's not a surprise they did so now. Normally, though, it's more clear at this point what the money will be used for."....
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