Anglogold dazzles NY market

Anglogold (AU-N), the world’s largest gold producer, literally roared on to the New York Stock Exchange with the help of a lion named Arthur.

The 800-lb. mascot, which represents the company’s new logo, was accompanied by a group of native South African dancers at a special gathering in New York City to celebrate the company’s increased presence in North American markets.

The more conservative faction was represented by Anglogold’s chairman, Bobby Godsell, along with James Motlatsi, president of South Africa’s mineworkers union, and Richard Grasso, chairman of the NYSE.

The company has begun listing American Depository Receipts on New York, becoming the first South African company to trade on the Big Board (T.N.M., Aug. 24-30/98). One ADR represents two shares of Anglogold. The ADRs had previously traded unsponsored on the over-the-counter market.

The company was formed following the amalgamation of the gold mining interests of Anglo American into a single independent company. In all, eight companies were combined, including Vaal Reefs, East Rand Gold, Eastvaal, Southvaal, Free State Consolidated, HJ Joel Gold and Western Deep Levels. Anglogold has a market capitalization of US$4 billion, produces 7 million attributable ounces annually and has reserves of 140 million oz.

The major has 97.8 million ordinary shares outstanding, plus 2 million “A” preferred shares and 780,000 “B” preferred shares. About 50.4% of the shares are held by Anglo American.