Problems with DRC unit prompts PPC not to make any promises
PPC says the need to restructure and refinance is mostly due to the fact that PPC needs to provide deficiency funding to PPC Barnet in DRC
Investors should not expect PPC’s share price to recover in 2020 or early in 2021 as the cement producer tries to restructure its business because of its struggles in Democratic Republic of Congo (DRC).
The company said last week that it was considering a rights offer but then left investors in the lurch as to the amount of the offer and when it would take place. There are rumours that the company will ask for R1.25bn. ..