By: Frik Els
Robert Friedland issued a news release on Monday after the market close under Canada’s so-called early warning financial market requirements that he’s regained control over a large chunk of shares in Ivanhoe Mines.
According to the press release issued from Singapore where Friedland is based, the billionaire financier has “regained direction and control” over 25m common shares that were previously pledged as security for a loan. The shareholding is worth C$84m (US$63m) at today’s ruling price.
According to the press release Friedland now effectively controls 14.4% of Ivanhoe Mines: