May 20 Ivanhoe Mines Ltd said on
Tuesday it has entered into agreements to raise C$150 million
($137.65 million) in a share and warrants offering. The funds
would be used to develop its mining projects in the Democratic
Republic of Congo.
Ivanhoe said C$125 million of the funds would come from a
bought deal with a syndicate of investment banks. The remaining
C$25 million would be raised in a private placement with Robert
Friedland, Ivanhoe's founder and chairman.
($1 = 1.0898 Canadian Dollars)
(Reporting by Nicole Mordant in Vancouver; Editing by Bernard