Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2019-05-24 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Investec Property Fund issue units prior to ASX listing
The company has issued 76,923,077 new units at A$1.32 (R12.95) per unit raising c.A$102 million in a bookbuild launch prior to the additional primary listing of the Fund on the Australian Securities Exchange. The proceeds of the offer will be used to repay debt.

Old Mutual repurchases shares
The company has, this week, repurchased a further 14,1 million shares, valued at R319,11 million. The shares were repurchase and cancelled. The company has extended by R500 million its R2 billion share repurchase programme announced on March 11, 2019.

Glencore repurchase shares
This week the company repurchased a further 21 million shares at a cost of £57,52 million (R1,05 billion) in terms of its buy-back programme.

South32 repurchases shares
The company this week repurchased 2,743,469 shares valued at A$9,55 million (R93,59 million).

Reinet repurchases shares
The company has repurchased a further 201,599 shares at an average price of R230.27 per share valued at R46,42 million.

11 companies issued a profit warning announcement
The following companies issued profit warnings this week: Stefanutti Stocks, Gaia Infrastructure Capital, Tsogo Sun, Mettle Investments, African Media Entertainment, Deneb Investments, Niveus Investments, Hosken Consolidated Investments, Brait SE, Efora Energy and Massmart.

Eight companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: ELB Group, Tradehold, Steinhoff International, Efficient Group, Barloworld, Trans Hex, EOH and Aspen Pharmacare.

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