CATALIST-LISTED phosphate miner AsiaPhos is weighing a restructuring exercise to restore its financial position, the board announced on Wednesday night.
The potential restructuring, which could include buying other businesses, follows an interruption of the group’s mining operations in China on the back of regulatory issues there.
The board warned that negotiations and arbitration with the Chinese government over the closed mines “may take years to settle and require substantial funding”.
Given the ongoing arbitration, the planned restructuring could “transform the company into a more suitable listing platform for new assets/business”, it added.
AsiaPhos confirmed that it will comply with Catalist rules, including getting shareholders…
Read the full article at: https://www.businesstimes.com.sg/companies-markets/with-chinese-mining-operations-stymied-asiaphos-mulls-business-restructuring