Currently viewing Global edition

Market jitters about Petra Diamonds just won't go away

Despite Petra Diamonds issuing a stockmarket announcement on July 30 to deny speculation the company was considering raising equity to refinance a $650 million bond that falls due in May 2022, the shares have continued to head south.

Market jitters about Petra Diamonds just won't go away Market jitters about Petra Diamonds just won't go away Market jitters about Petra Diamonds just won't go away Market jitters about Petra Diamonds just won't go away Market jitters about Petra Diamonds just won't go away

Since early August, the price is down by almost another 40%, which means we have a company with a market capitalisation of about $62 million sitting on a net debt pile of $541 million as at June 30,