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Vedanta wants to sell shares in KCM to raise K1.3 billion dollars

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We may sell KCM Shares, VEDANTA

…we are trying to raise $1.3billion…

Vedanta Base Metals CEO Chris Griffith says the company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit in Zambia, including the sale of a minority stake in KCM.

“We are in the fundraising process at the moment to raise $1.3 billion,” he said.

That may involve one of a number of potential outcomes, “one of which is a potential equity sale into Vedanta’s 80% that we own in KCM”, he added.

Source: The Economic Times, Nasdaq, Business Standard.

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