Vedanta to list Zambia copper unit, raise $1.1 billion
Posté: Sam 27 Nov 2010 17:23(Reuters) - Indian-focussed mining group Vedanta Plc (VED.L) plans to list is Zambian copper business on the London stock exchange to unlock value, raising $1.1 billion (686.3 million pounds) for its other growth projects, it said on Tuesday.
The global offering will consist of existing and new shares in Konkola Copper Mines (KCM), the second-biggest integrated copper producer in Africa, a statement said.
Vedanta has an indirect stake of 79.4 percent in KCM, with the remaining interest owned by ZCCM Investments Holdings, majority owned by the Zambian government. KCM will also have a listing in Lusaka, it added.
(Reporting by Eric Onstad; editing by David Hulmes)
Et on parle de zccm
The global offering will consist of existing and new shares in Konkola Copper Mines (KCM), the second-biggest integrated copper producer in Africa, a statement said.
Vedanta has an indirect stake of 79.4 percent in KCM, with the remaining interest owned by ZCCM Investments Holdings, majority owned by the Zambian government. KCM will also have a listing in Lusaka, it added.
(Reporting by Eric Onstad; editing by David Hulmes)
Et on parle de zccm