VEDANTA; “We want to borrow and raise $1billion for KCM from New York Stock Exchange”
…Vedanta shares in focus as parent eyes US listing for Zambian copper unit..
Vedanta is considering New York as one of the options to list KCM, as the Zambian unit is known, the sources said.
They said the discussions were at an early stage and a timeline had yet to be finalised.
Vedanta Resources, is considering a US public listing for its Zambian unit Konkola Copper Mines as one of its options to try to raise about $1-billion for mine development, three sources familiar with the details, told Reuters.
The miner, owned by Indian billionaire Anil Agarwal, has hired Barclays and Citigroup to advise on the plans for an initial public offering, said the sources, who declined to be named due to sensitivity around the discussions.
This Vedanta is extremely uninspiring. When they were taking back ownership of KCM last year they gave an impression that they had the money to fulfil the flowery promises and pledges they were making. Kansai it was just hot air! I am even beginning to wonder if we are not dealing with conmen.
*kanshi (not kansai)
Let’s find ways to buy it on the US stock market. Simple.