4 Jul 2009

Trading halted in shares of Rio Tinto

8:22 am on 4 July 2009

Trading has been halted in the shares of giant mining company Rio Tinto.

The company wrapped up one of the world's biggest rights issues on Thursday, saying its Australian shareholders have taken up 95% of their entitlements to new shares.

The company says Credit Suisse, J.P. Morgan and Macquarie will seek subscribers for the remaining 5% as part of their underwriting obligations.

Rio Tinto says it requested a trading halt to facilitate the bookbuilding process on Friday.

The move follows the sale of 97% of its London-listed stock. Rio wants to raise $US15 billion through the rights issue.