Northam Platinum Limited (JSE:NHM) announced a private placement of 11,700,000 preference shares at a pice of ZAR 82.025641 per share for the gross proceed ZAR 959,700,000 on July 2, 2020. The transaction include participation from existing investor Zambezi Platinum (RF) Limited (JSE:ZPLP). Post completion of transaction, the investor will hold 40.71% stakes of the company.

The securities issued in the transaction will fall due 2025.