Pensana Says M&G to Become Shareholder via Premium Share Placing - MarketWatch

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By Sabela Ojea

Pensana PLC said Wednesday that M&G Securities Ltd. has agreed to invest 10 million pounds ($13.3 million) in the company via a share placing of 12.4 million new shares at a premium price.

The rare-earths mining company's shares will be issued at a price of 81 pence a share, which represents a premium to the company's share price on Tuesday. The company's latest closing price was 77.00 pence a share.

Following the admission of the placing shares to trading, M&G will have an interest in around 5% of Pensana's issued share capital, it added.

Shares at 0858 GMT were up 5.00 pence, or 6.5%, at 82.00 pence.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

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