Shumba Coal to debut on Mauritius bourse

Tuesday, May 06, 2014

Shumba coal directors, Thapelo Mokhathi, Alan Golding, Mashale Phumaphi and Grant Ramnauth

Botswana’s first citizen-controlled mining company, Shumba Coal has received the greenlight to list on the Mauritius Stock Exchange and will start trading on the bourse in July.

The company plans using the bourse in the tourism haven as an alternative fund raising platform for the local coal focused miner.

In a statement released to the Botswana Stock Exchange (BSE) yesterday, the company said the Stock Exchange of Mauritius has granted approval to Shumba Coal Limited for the private placement and admission of up to 50,000,000 new ordinary shares at a price of $0.12 per share. This represents a value of $6 million (P51 million). The offer will start on May 27, 2014.

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