Gemstone miner Gemfields has successfully raised $30 million through a fully underwritten rights issue, initially announced on April 11.
The company issued approximately 556 million new ordinary shares, with shareholders accepting about 458 million shares (82.4% of the offering).
The remaining 98 million shares will be acquired by underwriters, with Assore International Holdings taking 64 million shares and Rational Expectations subscribing 34 million—both exceeding their pro rata entitlements.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
