COMPANY COMMENT
Petra’s shareholders face grim choice
Shareholders face being diluted to just 9% ownership of Petra
20 October 2020 - 17:57
Shareholders in Petra Diamonds face a stark choice: back a company-saving financing deal and be hugely diluted or lose the company entirely.
Petra is heavily in debt, with $650m or about R11bn of notes maturing in May 2022, and more than R1bn in rand-denominated debt clogging up its balance sheet...
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