National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Coal of africa Stockholders approve $100m share issue to Chinese firm

January 28 2013 at 08:00am

Comment on this story

Coal of Africa Limited (CoAL) had received the green light from its shareholders to proceed with issuing shares to state-owned Haohua Energy International (HEI), the company said on Friday. The approval has sealed the deal involving HEI, a subsidiary of Beijing Haohua Energy Resource (BHE), investing $100 million (R893m) in CoAL. The deal was approved by both the South African and Chinese regulatory authorities last year. “This investment by HEI will form the basis for a strategic partnership between CoAL and BHE that will facilitate the development of CoAL’s assets,” CoAL chairman David Brown said. CoAL shares fell 1.89 percent to R3.12 on Friday. – Dineo Faku


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku