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Sasol is preparing for South Africa’s biggest rights issue Fleetwood Grobler, Sasol President And Ceo

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Sasol is preparing for South Africa’s biggest rights issue in two decades as it raises cash to meet debt obligations after a share-price collapse sparked by cost overruns at its US chemicals project and the plunge in oil prices.

The company expects to raise R99 billion ($6 billion) by the end of its 2021 financial year, including a share sale of as much as $2 billion, it said in a statement. It has entered into a standby underwriting agreement with BofA Securities, Citigroup and JP Morgan Securities for the rights issue, it said.
17 Mar 2020 9AM English South Africa Business News · Investing

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