STOCKS NEWS EUROPE-Aquarius Platinum falls on bond launch

Shares in Aquarius Platinum <AQP.L> fall 9 percent after the miner says it plans to launch a $250 million convertible bond and as investors take profits following the group's recent share rally.

"It's a combination of people taking profits and not seeing this as a prudent refinancing but seeing this as a new issue of equity which would lead to dilution," says Dominic O'Kane, analyst at Liberum Capital. "I think there has been a bit of an overreaction."

The proceeds of new convertible bond will be partly used to fund the early redemption of the group's existing 650 million rand convertible bonds.

To see the company's statement please click on [ID:nPRrO9136a]

Reuters messaging rm://julie.crust.reuters.com@reuters.net