{"id":11723,"date":"2012-06-21T23:37:24","date_gmt":"2012-06-21T21:37:24","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/lontohcoal-delays-plan-for-1-bln-hong-kong-listing\/"},"modified":"2012-06-21T23:37:24","modified_gmt":"2012-06-21T21:37:24","slug":"lontohcoal-delays-plan-for-1-bln-hong-kong-listing","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/lontohcoal-delays-plan-for-1-bln-hong-kong-listing\/","title":{"rendered":"LontohCoal delays plan for $1 bln Hong Kong listing"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Delayed IPO due to difficult market conditions<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Plans 50,000 bpd coal-to-liquids plant in Zimbabwe<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 21<\/span> (Reuters) &#8211; South African coal miner<br \/>\nLontohCoal has delayed its $1 billion Hong Kong initial public<br \/>\noffering due to difficult market conditions, ex tending the time<br \/>\nframe for the listing to the end of February next year, its<br \/>\nchief executive said.<\/p>\n<p><span><\/span><\/p>\n<p>Tshepo Kgadima said the listing, originally planned for the<br \/>\nfirst half of 2012, would help speed up its projects in South<br \/>\nAfrica and Zimbabwe. These include a planned $5.5 billion,<br \/>\n50,000 barrels-per-day coal-to-liquids plant the company hopes<br \/>\nto construct by 2017 to supply diesel and other fuel products to<br \/>\nthe Zimbabwean and regional markets.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I&#8217;m confident that in the current financial year which ends<br \/>\nin February we should be able to conclude this IPO. We are ready<br \/>\nto launch once equity capital markets improve,&#8221; he told Reuters.<\/p>\n<p><span><\/span><\/p>\n<p>A gloomy outlook for the world economy has made equity<br \/>\nmarkets volatile and investors wary of putting money into new<br \/>\nlistings. Last month, London jeweller Graff Diamonds pulled its<br \/>\nplanned $1 billion IPO in Hong Kong.<\/p>\n<p><span><\/span><\/p>\n<p>LontohCoal has also decided to double the target for its IPO<br \/>\nfrom an original $500 million after completing more detailed<br \/>\nstudies on some of its projects,.<\/p>\n<p><span><\/span><\/p>\n<p>In the interim, the group has launched an over-the-counter<br \/>\ntrading platform to broaden its shareholder base and provide<br \/>\nliquidity and an exit for its initial investors.<\/p>\n<p><span><\/span><\/p>\n<p>The company decided to have its primary listing in Hong Kong<br \/>\nrather than Johannesburg because of its large exposure to Asia.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Delayed IPO due to difficult market conditions * Plans 50,000 bpd coal-to-liquids plant in Zimbabwe JOHANNESBURG, June 21 (Reuters) &#8211; South African coal miner LontohCoal has delayed its $1 billion Hong Kong initial public offering due to difficult market conditions, ex tending the time frame for the listing to the end of February next [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11723","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11723"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11723\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}