Rio Tinto Limited (RIO) said it received acceptances for almost 95% of its shares offered in last month's rights issue. The mining giant announced the closure of the rights issue as at 1700 AEST on Wednesday, 1 July.

Rio Tinto offered shareholders just over 150 million shares at $28.29 per share on a 21 for 40 basis.

The company said it expects the new shares to commence normal T+3 settlement trading on the Australian Securities Exchange on Friday, 10 July 2009.  

Rio Tinto said its underwriters would be seeking subscribers for the remaining 7,865,410 shares by way of a bookbuild to be undertaken today.

The company said it would be requesting a trading halt to facilitate this process.

Yesterday, Rio announced it had received acceptances for 97% of shares offered on the London Stock Exchange to Rio Tinto plc shareholders.

At close of trade yesterday, Rio Tinto shares were trading at $51.75.