By Tapan Panchal

LONDON--Impala Platinum Holdings Ltd. (IMP.JO) said Tuesday that it will raise up to 4 billion South African rand ($292.58 million) through a placing of new shares.

The South African platinum company said the placing proceeds would enable the company to replace older shafts at the Impala lease area, improving infrastructure and smelter efficiency. The Impala lease area is located on the Bushveld complex near the city of Rustenburg in South Africa.

Impala is placing the new ordinary shares through an accelerated book-build offering. UBS Ltd. is acting as underwriter and sole book-runner in relation to the placing.

Write to Tapan Panchal at tapan.panchal@wsj.com

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(END) Dow Jones Newswires

October 06, 2015 11:41 ET (15:41 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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