Standard Bank, Africa’s largest bank by assets, has played a pivotal role as joint global coordinator in the landmark divestment of Anglo American’s remaining 19.9% stake in Valterra Platinum. The transaction, which raised R44.1 billion (approximately $2.5 billion), now stands as the largest equity capital markets deal ever executed on the Johannesburg Stock Exchange (JSE).
The placement marks the final step in Anglo American’s strategic exit from Valterra Platinum, aligning with its broader portfolio simplification strategy. The mining giant is refocusing its efforts on core assets in copper, premium iron ore, and crop nutrients, while the proceeds from the sale significantly strengthen its balance sheet.
As the only South African bank in the syndicate, Standard Bank played a critical role in mobilizing anchor demand and ensuring the successful sale of Anglo American’s full residual stake.
Richard Stout, Head of Equity Capital Markets for South Africa & Sub-Saharan Africa at Standard Bank Corporate and Investment Banking, commented:
Standard Bank played a key role in unlocking significant anchor demand that helped deliver a sale of the full residual stake.
This transaction is further evidence of Standard Bank’s ability to provide strategic equity advice and distribute landmark capital markets transactions. It reinforces our position as the leading equity capital markets franchise on the continent.
The successful execution of this deal not only highlights Standard Bank’s deep expertise in equity capital markets but also underscores its capacity to support complex, high-value transactions that shape Africa’s financial landscape.
