Royal Bafokeng Platinum IPO Pricing Said to Be Set at Middle of Range

Royal Bafokeng Platinum Ltd., a South African miner of the precious metal, has orders for all stock on sale in its 3 billion rand ($431 million) initial public offering at around the middle point of the price range it sought, a person familiar with the matter said....The IPO, the biggest in South Africa’s mining industry in at least 16 years, follows share sales byOptimum Coal Holdings Ltd., which raised 1.4 billion rand in a private placing before listing in Johannesburg in March, and Keaton Energy Holdings Ltd., which raised 100 million rand before its April 2008 listing. The company needs funds for a section of its Bafokeng Rasimone mine venture northwest of Rustenburg.