(RTTNews) -  Rio Tinto plc (RTP: News ,RIO.L: News , RTPPF.PK) confirmed that it has completed the second tranche of its private placement investment in Ivanhoe Mines Ltd, increasing its ownership by 9.8% to 19.7% of Ivanhoe's common shares. The second tranche consists of 46.30 million common shares at a subscription price of US$8.38 per share for a total consideration of US$388.03 million.

If Rio Tinto were to exercise and convert all of its remaining warrants and securities of Ivanhoe, it would own approximately 257.93 million common shares of Ivanhoe representing 43.1% of Ivanhoe's common shares.
Rio Tinto said that it has no present intention of acquiring other securities of Ivanhoe, except as regards its right to acquire additional securities so as to maintain its proportional equity interest in the future, or of disposing of any of the securities of Ivanhoe which it holds. Rio Tinto may acquire additional securities of Ivanhoe or sell some or all of the securities it holds.

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by RTT Staff Writer

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