A visitor descends stairs outside the offices of Anglo American Plc in the Marshalltown district of Johannesburg, South Africa, on Friday, Oct. 26, 2012. Anglo American Plc Chief Executive Officer Cynthia Carroll , the first woman, external hire and non-South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Sept 11 (Reuters) – Miner Anglo American on Wednesday said one of its subsidiaries has raised 7.2 billion rand ($403.21 million) from the sale of about a 5.3% stake in Anglo American Platinum (Amplats) as part of a share sale program that launched a day earlier.

Anglo American South Africa Proprietary Limited sold 13.9 million Amplats shares for $28.84 per share, the miner said.

An accelerated bookbuild offering of about 13 million shares of Amplats was launched on Tuesday, ahead of the South African unit’s demerger expected next year.

“The placing is intended to broaden the free float of Anglo American Platinum, reduce the number of shares distributed to Anglo American shareholders upon demerger and thereby reduce flowback following the demerger,” Anglo American said.

Amplats CEO Craig Miller had said in July that the company was planning a secondary listing in London.

($1 = 17.8824 rand)

(Reporting by Aatrayee Chatterjee and Yamini Kalia in Bengaluru; Editing by Shreya Biswas and Mrigank Dhaniwala)

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