Centamin Egypt said it raised about LE 86 million in a share placing, although the price was at a 7 percent discount to the gold producer’s closing price on Wednesday and so pulled the company’s shares lower.
Centamin placed 51.5 million shares at 167 pence each with BofA Merrill Lynch acting as sole bookrunner.
Shares in the gold miner, which had fallen earlier on Thursday after the placing was announced, dropped further once the pricing was released.
At 1029 GMT the shares had fallen 7.2 percent to 166.9 pence, underperforming a 0.2 percent gain in a British mining index and making the company one of the worst performing mining stocks in London.
