15th Nov 2013 10:42
LONDON (Alliance News) - Petropavlovsk PLC Friday said that iron-ore mining subsidiary IRC Ltd has suspended its shares on the Hong Kong Stock Exchange because the timetable for an investment in the company might change.
IRC, in which Petropavlovsk holds a 51.2% stake, was supposed to get the investment from General Nice Development Ltd and Minmetals Cheerglory Ltd Monday. Petropavlovsk said the new timetable might also include changes to the steps that will be taken ahead of completion.
It didn't provide any more details, but said it would give more details when they are available.
Petropavlosk shares were down 0.9% at 73.565 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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