Also: Exxaro lists on A2X and MAS Real Estate delists from Luxembourg Stock Exchange.
Sappi has halted its R2.7 billion expansion project at its Saiccor Mill in KwaZulu-Natal because of the Covid-19 outbreak.
Sappi said the project was 65 percent complete and “materially on track”. The project was undergoing a controlled shutdown, the company said, adding that the project would restart based on government guidance.
Read more here.
Exxaro has been approved for a secondary listing on the A2X from 2 April, bringing the number of securities available for trade on the exchange to 36 with a combined market capitalisation of more than R1.5-trillion.
Exxaro will be the third mining company to list on the A2X, joining African Rainbow Minerals and Tharisa.
Read more here.
MAS Real Estate, which owns shopping centres in Central and East European countries like Romania, Bulgaria and Poland, will delist from the Luxembourg Stock Exchange (LSE), where it is little traded, in June.
MAS, which will retain its primary listing on the Johannesburg Stock Exchange (JSE), had said earlier in March that its listing in Luxembourg had created “unnecessary bureaucracy and costs.”
Read more here.
London and JSE-listed landlord RDI, which is selling off its assets in Germany to focus on the UK, said on Thursday it had sold three warehouses in Germany for €34.2 million (about R650 million), having now moved to dispose of more than half that portfolio.
Read more here.
Chevron cut its capital spending budget by $4 billion on Tuesday, leading a wave of cost-cutting announcements across the oil and gas industry as it reels from declining demand in the face of the Covid-19 pandemic and a dramatic slide in prices.
Read more here.
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