Capstone’s Pinto Valley copper-molybdenum mine in Arizona, 125 km east of Phoenix. Credit: Capstone
Hadrian Capital Partners is selling down an A$688 million ($454.1 million) dollar stake in dual-listed Capstone Copper on Thursday, according to a term sheet seen by Reuters.
The investor is selling 50 million ASX Chess Depository Interests (CDI) in the company at A$13.75 each, the term sheet said.
The price is a 6.7% discount to Capstone’s Australian closing price of A$14.74 on Thursday.
Citigroup and Macquarie Capital are handling the trade, according to the term sheet.
Capstone Copper did not immediately respond to a request for comment from Reuters. Hadrian Capital Partners could not be reached outside US business hours.
The share sale represents 6.6% of Capstone Copper’s total shares on issue, the term sheet said, and Hadrian Capital Partners will retain a 6.7% stake in the…
