The embattled chemicals and energy group’s share price rose as much as 50% at one point on Friday, before paring gains
Shares in Sasol rose as much as 50% on Friday, on track to snap a seven-session losing streak, a day after the synfuel maker said it is working on measures to to address pressure on its balance sheet.
Sasol, which produces synthetic oil from coal, said later on Thursday that it would accelerate and expand its asset disposal programme and consider a rights issue as part of a package of measures to ensure the company is profitable, even with oil prices at their recent lows.
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