PPC rights issue ‘almost off the table’ as debt pile shrinks
With no big expansions planned, the group generates enough cash to avoid tapping shareholders
28 September 2021 - 14:20
UPDATED 28 September 2021 - 19:00
PPC says a lender-compelled rights issue is almost off the table, having now successfully completed the R515m sale of its lime business, while cement sales have increased to above prepandemic levels.
SA’s biggest cement maker is now “largely done” with a restructuring process aimed at bringing debt to sustainable levels, CEO Roland van Wijnen said on Tuesday. With no major expansion plans in the offing, the group is now sufficiently cash-generative to avoid tapping shareholders altogether, he said...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.