Sasol’s share price collapse wipes out R47bn in value
Chemicals group’s debt now more than twice its market cap after shares take a 46% hammering
09 March 2020 - 10:03
Smarting from the downgrade to junk by Moody’s Investors Service and cost overruns at its giant Lake Charles plant, Sasol had its worst day on the JSE on Monday when a dramatic slide in oil prices wiped out more than R47bn from its market value.
Shares in the world’s biggest maker of fuel from coal and gas plunged 46.5% to R85.35 in a selling frenzy triggered by a free-falling oil price after Saudi Arabia instigated an oil price war with Russia at the weekend. ..
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