Corporate finance activity of the week


Corporate finance activity of the week

Published Date: 2018-07-20 | Source: DealMakers | Author: Marylou Greig | Comments

Corporate finance activity of the week

Efora Energy announces Rights Offer terms
Efora will undertake a rights offer to raise R600 million and will issue 1,200,000,000 shares at R0.50 per share. Although not underwritten, the Public Investment Corporation, a 60.72% shareholder, has provided the company with a commitment that it will follow its rights in full. The results of the offer will be announced on August 13.

EPP issues shares for cash
The company has placed 36,436,916 shares with Redefine Properties at a price of 19.26 per share to raise R701,8 million.

Vukile Property Fund undertakes equity raise
The company increased the quantum of equity targeted to R1,63 billion due to strong demand and issued 86,715,812 new shares. Of these, 73,95 million shares were issued at R18.66 per share, raising R1,38 billion. The remaining R250 million raised was by way of placement with the Encha SPV.

Quantum Foods to repurchase shares
Quantum Foods has made a voluntary pro rata tender offer to all shareholder to repurchase up to 11,08 million shares constituting up to c.5% of the issued shares in the company.

Results of Finbond distribution alternative
The company has issued 9,104,516 new shares in terms of its scrip distribution alternative retaining R35,69 million in the company. The shares were issued at R3.92 per share.

Argent Industrial repurchases shares
The company has this week repurchased 227,214 shares representing 0.24% of its issued ordinary share capital for R883,897.

Glencore to repurchase shares
The company has this week repurchased in terms of its buy-back programme, 38,21 million shares at a cost of £119,52 million (R2,09 billion). The programme is expected to be completed over the period from July 5, to August 7, 2018.

Grit Real Estate Income Group to seek a listing on the LSE
The company has announced it intends to seek a primary listing on the main market of the London Stock Exchange. Currently the company is listed on the Mauritian Stock Exchange and the JSE. The company will issue 200 million new shares for subscription in the Initial Placing and Offer at $1.43 per share.

JSE announces the delisting of certain companies
The JSE has advised that Stratcorp and The Waterberg Coal Company are to be delisted from the exchange as of July 23, 2018 and shareholders will remain shareholders in unlisted companies.

Five companies issued a profit warning announcement
The following companies issued profit warnings this week: Global Asset Management, Merafe Resources, Woolworths, ArcelorMittal South Africa and Kumba Iron Ore.

Six companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Life Healthcare, Nictus, Santova, Orion Real Estate, Imbalie Beauty and Astoria Investments.

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