Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

African International Energy to List Shares at 0.5 Euros Each

July 5 (Bloomberg) -- African International Energy Plc, a Johannesburg-based investor in energy projects on the continent, said its shares will start trading at 0.50 euros ($0.72) each on the Frankfurt Stock Exchange by July 8.

The company, which listed 256.64 million shares on the bourse in May, is in talks to buy a gas field in South Africa and aims to build a geothermal plant in East Africa, Chief Executive Officer Aldworth Mbalati said by phone today. It also plans to resuscitate a coal mine in Nigeria with a view to establishing a coal-fired power plant, he said.

African International is only listing its stock, meaning it’s exempt from issuing a prospectus, and plans to raise capital at a later stage, he said. “We have sufficient cash on our books.”

To contact the reporter on this story: Vernon Wessels in Johannesburg at vwessels@bloomberg.net

To contact the editors responsible for this story: Riad Hamade at rhamade@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.