KUALA LUMPUR: Australia's OM Holdings (OMH) will use some of the funds generated from a planned secondary listing in Hong Kong to finance a manganese and ferro silicon smelter in Sarawak, a top official said on Friday, April 15.
The miner expects to spend up to $400 million to build the smelter with 600,000 tonnes of annual capacity in its quest to join BHP Billiton and Vale as top producers of the steel components.
Chief Executive Peter Toth said the firm will keep to its plans to list on the Hong Kong stock exchange by mid-2011. He declined to comment on plans by the firm's top shareholder Consolidated Minerals to oppose the listing.
"Some of the funds from the listing will be used but the exact structure of shareholding for this asset is still under discussion," Toth told Reuters in an telephone interview from the firm's Singapore headquarters.
"We could consider investors, project financing, debt or internally generated funds," he added. - Reuters
The miner expects to spend up to $400 million to build the smelter with 600,000 tonnes of annual capacity in its quest to join BHP Billiton and Vale as top producers of the steel components.
Chief Executive Peter Toth said the firm will keep to its plans to list on the Hong Kong stock exchange by mid-2011. He declined to comment on plans by the firm's top shareholder Consolidated Minerals to oppose the listing.
"Some of the funds from the listing will be used but the exact structure of shareholding for this asset is still under discussion," Toth told Reuters in an telephone interview from the firm's Singapore headquarters.
"We could consider investors, project financing, debt or internally generated funds," he added. - Reuters
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