La mise sur le marché de Konkola semble retardée à l'année
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Vedanta says will now list Konkola Copper Mines in 2011
* Offering planned to raise $1.1 billion to boost output
LONDON, Nov 30 (Reuters) - London-listed Indian miner Vedanta (VED.L: Quote) said on Tuesday a planned initial public offering of its Zambian copper business would not take place until next year, due in part to stock market volatility.
Earlier this month Vedanta announced plans to list Konkola Copper Mines (KCM), the second-biggest integrated copper producer in Africa, selling new and existing shares to raise about $1.1 billion to be used by KCM to boost output.
Kishore Kumar, chief executive of KCM's holding company Konkola Resources, had previously said the London listing was expected next month, while a source close to the deal had said final pricing was expected in mid-December. [ID:nLDE6AF07W]
"With year end approaching and the current stock market volatility, the boards of Vedanta Resources plc and Konkola have decided to pursue such listing in 2011," the company said in a statement.
After a relative resurgence in European offerings in October and early November, supported by stock markets trading at two-year highs, concerns over euro zone debt following Ireland's bailout have increased market volatility. .FTEU3
Shares in Vedanta fell sharply following the announcement and by 1000 GMT, stood 1.19 percent lower at 1,988 pence. (Reporting by Kylie MacLellan, Editing by Kirstin Ridley)
http://af.reuters.com/article/commoditi ... 7020101130
( Pierre Mac Orlan )