Mineral resources
BofA and Citigroup among syndicate of underwriters for new Sasol shares on the JSE ($2bn)

BofA and Citigroup among syndicate of underwriters for new Sasol shares on the JSE ($2bn)

The South African group, which is in an unfavourable position due to a huge but underperforming project across the Atlantic, a fall in oil prices and the health crisis, is forced to turn to the financial markets to rebalance the books.

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            ▪ BofA and Citigroup among syndicate of underwriters for new Sasol shares on the JSE ($2bn)

▪ The South African group, which is in an unfavourable position due to a huge but underperforming project across the Atlantic, a fall in oil prices and the health crisis, is forced to turn to the financial markets to rebalance the books.

http://www.jeuneafriquebusinessplus.com/en/803948/bofa-et-citigroup-parmi-le-syndicat-de-placement-de-nouvelles-actions-sasol-sur-le-jse-2-milliards/

02/04/2020 at 18h38, by Tarik Bargal

To counter the crisis that eroded the stock market valuation of oil group Sasol Limited by more than 80% in less than a month, its management team has drawn up a two-year recovery plan. This includes a programme to reduce expenses by nearly $700m (€636m) in 2021, the rescheduling of debts, and the potential issuing of new shares.

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