Cement maker PPC’s share had its worst day in almost two months on Tuesday, after it said it has agreed to asset sales and a capital raise as part of a new agreement with lenders.
PPC is grappling with a debt burden far in excess of its approximately R1bn market capitalisation, while the results for its year to end-March have been repeatedly delayed, partly due to its need to reach a new agreement with lenders.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
Source: News Formal (newsformal.com)
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