Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Nathaniel Rothschild to Underwrite Stock Sale for Asia Resource Minerals

Nathaniel Rothschild

Nathaniel Rothschild, a British financier of the legendary Rothschild banking dynasty, has suggested that Asia Resource Minerals (ARM) raise funds in a stock sale he is planning to underwrite, according to Bloomberg. Rothschild owns 17% of outstanding shares in the troubled Indonesian coal miner that is $950 million in debt. Austria’s Raiffeisen Bank International (RBI) now has voting in 23% of the company, a stake that belonged to Chairman Samin Tan, who was not able to meet the terms of  loan.

Coal prices have declined dramatically, and this has had a devastating effect on many producers, some of whom have filed for bankruptcy. Glencore announced it would slow down production, which should have a positive impact on prices. ARM shares rose 14% in London on the news of the stock sale that may lift it out of debt. “The option was never available before because Samin Tan was unable to contribute new equity, ” Rothschild said.

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement