Sasol has suggested it may be able to avoid an unpopular, and dilutive, rights issues because the $2bn (R33bn) sale of a part of its soured Lake Charles project in the US will go a long way to fixing its balance sheet.

Management will consider Sasol’s debt level and the state of the global chemicals and oil markets in December and into February when the board meets to decide on selling shares, which may not be needed, CFO Paul Victor said on Friday.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now