- Minbos Resources (MNB) stops trading ahead of capital raise
- The company didn’t reveal how much it will raise, but it did say a “significant” upcoming investment and strategic cooperation deal is in the works.
- Under the halt, MNB shares will be suspended until Tuesday, July 12, or when further information about the increase is released to the market
- On the market, MNB shares last traded at 13.5 cents on July 5
Minbos Resources (MNB) has ceased operations in anticipation of a capital increase.
It’s unclear how much the company aims to raise, but it said the announcement will come with a “significant” investment and a strategic cooperation agreement.
Under the halt, MNB shares will be suspended until Tuesday, July 12, or when further information about the increase is released to the market.
Minbos is a phosphate fertilizer and nutrient company focused on developing a nutrient supply and distribution business that drives agricultural production and promotes food security in Angola and the wider Congo Basin .
Recently, the company signed a memorandum of understanding with the world leader in green ammonia production Stamicarbon to conduct a technical study for the Capanda green ammonia plant in Angola.
The technical study will assess a mixed production profile of 300,000 million tonnes per year of green products based on ammonium nitrate.
In the market, MNB shares last traded at 13.5 cents on July 5.