Rio Tinto Group has scrapped plans to raise as much as $5 billion in a share sale following pushback from investors, people with knowledge of the matter said.

Rio Tinto (NYSE:RIO) has ended plans to raise as much as $5B in a share sale following pushback from investors, Bloomberg reported Friday. Rio (NYSE:RIO) executives had floated the possibility of an equity offering in recent investor meetings,

SYDNEY: Rio Tinto Group has scrapped plans to raise as much as US$5bil in a share sale following pushback from investors, people with knowledge of the matter say.

Rio Tinto is investing billions to expand its operations. The post Rio Tinto share price marching higher amid two multi-billion-dollar announcements appeared first on The Motley Fool Australia.