Shares in Sasol, whose woes continue to mount due to major cost overruns in the US, are still too expensive and the energy and chemicals company faces a possible “credit crisis”, according to Standard Bank’s SBG Securities.
Sasol shocked the market last week when it delayed the release of its full-year earnings report by a month to provide time for the completion of a probe into cost overruns and start-up delays at its near-R200bn Lake Charles chemical plant in the US.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.