Davis Polk advised the joint global coordinators of a private placement of new ordinary shares of Harmony Gold Mining Company Limited, representing approximately 12% of its issued ordinary share capital. The private placement raised gross proceeds of approximately $82 million, which will be used to pay down part of the borrowings under a bridge related to the acquisition of Moab Khotsong.

Harmony Gold Mining Limited, which is listed on the Johannesburg Stock Exchange and The New York Stock Exchange, is a gold mining and exploration company operating in South Africa and Papua New Guinea. Following the acquisition of Moab Khotsong, Harmony Gold Mining Limited has nine underground mining operations, one open-pit mine and several surface operations in South Africa. In Papua New Guinea, an open-pit gold and silver mine and a 50% interest in a joint venture that includes extensive exploration tenements. Outside the joint venture, Harmony’s own exploration portfolio focuses principally on highly prospective areas in Papua New Guinea.

The Davis Polk corporate team included partner Reuven B. Young and associate Ida Araya-Brumskine. Partner Simon Witty and European counsel Jamie Corner provided English law advice. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. All members of the Davis Polk team are based in the London office.

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