South African mining company Coal of Africa saw its shares rise after a wholly-owned subsidiary of Beijing Haohua Energy told the miner that it has received the requisite approvals ahead of schedule from the relevant Chinese authorities giving the go-ahead for the subscription for 100m dollars worth of Coal of Africa shares.
The shares are being subscribed for at a price of 25p a share, as per the agreement. The approval is valid for two years.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Investors should buy into the nuclear power renaissance – Merryn Somerset WebbOpinion A new golden age for nuclear power is upon us, says Merryn Somerset Webb
-
ETFs are getting active - is your portfolio ready?Active ETFs are on the rise, challenging old assumptions. Find out why more investors are choosing this transparent, liquid and tax-efficient fund structure as an active investment strategy.
