De Beers, the world's largest diamond producer, has announced plans to raise $1 billion from investors.
The rights issue is designed to help reduce debts, which currently stand at well over $3 billion.
De Beers said further investment from shareholders would also help it to take advantage of the recovery in the global economy.
"This investment would better enable the company to take advantage of new opportunities," it said in a statement.
This has been something of a bad year for De Beers and its first half profits fell by almost 100 percent as a result of a collapse in the price of diamonds.
Share holders - Anglo American plc, the Oppenheimer family and the Botswana government - have agreed in principle to the rights issue.
Edited by Ellie Duncan
LINKS: www.debeersgroup.com
The rights issue is designed to help reduce debts, which currently stand at well over $3 billion.
De Beers said further investment from shareholders would also help it to take advantage of the recovery in the global economy.
"This investment would better enable the company to take advantage of new opportunities," it said in a statement.
This has been something of a bad year for De Beers and its first half profits fell by almost 100 percent as a result of a collapse in the price of diamonds.
Share holders - Anglo American plc, the Oppenheimer family and the Botswana government - have agreed in principle to the rights issue.
Edited by Ellie Duncan
LINKS: www.debeersgroup.com
