Zimbabwe: Old Mutual U.S. Stake in Riozim

24 April 2012

OLD Mutual has increased its shareholding in RioZim from 20 percent to 29,6 percent after sub-underwriting the mining company's US$5 million rights issue. RioZim floated 10 million rights issue shares and shareholders subscribed 60,63 percent of the shares, resulting in Old Mutual taking up 39,36 percent of the unsubscribed shares.

"The unsubscribed rights offer shares have been taken up by the sub-underwriter, Old Mutual Life Assurance Company Zimbabwe Limited," RioZim said in a statement.

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