Sasol’s woes mount on market backlash

Shares in Sasol, which is grappling with major cost overruns in the US, are still too expensive despite halving in value in less than a year, says one of the country’s top stockbroking houses.

SBG Securities, which is part of Standard Bank, the biggest bank in SA by assets, also said that the chemicals and energy company may have to cancel its final dividend, sell assets and issue new shares to raise funding as it faces the risk of having its debt downgraded to junk status.