COAL EXPORTS
Minergy weighs secondary listing destination
The JSE would be the cheapest option, but Minergy’s board is concerned about the uncertain regulatory environment in SA
Botswana-listed coal developer Minergy, which is headed by former Wescoal CEO Andre Boje, is taking steps to secure a secondary listing on the JSE, London’s AIM or the Australian Stock Exchange in the next few months, Boje said on Tuesday. Although the JSE would be the cheapest option and Boje has experience in heading a JSE-listed company, he said Minergy’s board was concerned about the uncertain regulatory environment in SA and had asked management to look at alternatives. Minergy’s biggest investors are Botswana pension funds, with 28% to 30% of the shares. Minergy listed in Botswana in April after raising 70-million pula (R89.3m) in a private placement of shares to develop its Masama coal project in the southwestern corner of Botswana’s Mmamabula coalfields. But the shares, currently at 1.05 pula — slightly higher than the placement price of one pula — are little traded. Thirty-three companies are listed on the Botswana Stock Exchange, including some that are also listed in SA, ...
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