The world's largest platinum miner, Anglo Platinum, has announced that its R4 billion rights offer has been oversubscribed.

The pgm giant said that excess applications for 2.5 million preference shares were received.

Parent group Anglo American revealed that it would take up its full portion of the convertible perpetual cumulative preference shares to which it was entitled, taking 29,908,480 of the 40,000,000 shares on offer.

In total Anglo American boosted its stake from 74.1 per cent to 74.8 per cent of the available preference shares, according to Business Day.

Out of the remaining shares, 9.5 million were taken up by shareholders, meaning that 98.6 per cent of the shares were snapped up overall.

Angloplat says it plans to produce about 2.45 million ounces of platinum this year, compared with 2.3 million last year, as it continues to expand.