African Copper raises P92m from private placement

African Copper paid a capital-raising fee in cash to Capital Corporate Finance (Pty) Ltd. (in Gaborone ) equal to five percent (exclusive of taxes) of the proceeds raised pursuant to the private placement.

Under a private placement, companies sell their shares directly to monied institutions that include asset managers, insurance companies or mutual funds.
As a result of the private placement, 8,367,772 ordinary shares were admitted to trading on AIM of the London Stock Exchange on 26 June 2007, following which there were a total of 139,574,957 ordinary shares in issue.
African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development company that is developing its first copper mine in Botswana.