WEDNESDAY, 11.30AM
GENCOR chairman Brian Gilbertson, fresh from an investor roadshow to promote the group’s Billiton listing on the London Stock Exchange, said on Tuesday the share offer is looks set to attract far more than the 1-billion originally predicted.
Rejecting cliams that Gencor is “emigrating”, Gilbertson said government’s green light for the share offer is the greatest display so far of government confidence in SA business. Gencor plans to shift its non-precious metals interests to Billiton along with a simultaneous share offer. Gilbertson stressed the significance of the Billiton listing for SA, pointing out that Billiton will be among the top 50 biggest companies on the LSE, and it is expected to be listed on the Financial Times Stock Exchange 100 index.
Gilbertson added that Billiton major focus after the listing will be the privatisation of South American mines.