Finance / South Africa
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South Africa's Lesego Platinum Postpones Listing
July 2008 | IPO News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Lesego Platinum, a South African platinum exploration company, has postponed its planned initial public offering on the Johannesburg Stock Exchange. The shares were scheduled to start trading on July 31, but Lesego announced on July 28 that it would postpone the listing and seek alternative funding. The company cited volatility in the financial markets and negative sentiment toward platinum stocks. However, when asked by CFW about Lesego's outlook for platinum prices, Lesego CEO Phiway Mbuyazi said he remains 'optimistically hopeful'.