Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2020-02-14 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Investec Property Fund in capital raise
The company has raised, through a partially underwritten accelerated bookbuild, R875 million. A total of 68,627,451 new ordinary shares were placed at an issue price of R12.75 per share.

Gold Fields to place shares for cash
The company has concluded a non-pre-emptive cash placing through the issue of 41,431,635 new shares, representing 5% of the company's existing issued ordinary shares. The shares were issued at a price of R90.20 per share resulting in gross proceeds of R3,74 billion. The net proceeds will be used to partially fund the construction of Salares Norte project in Chile.

Results of Stenprop's scrip distribution alternative
The company has issued 1,662,173 new ordinary shares in terms of its scrip distribution alternative resulting in a capitalisation of distributable retained profits of the company of R39,44 million.

Anglo American repurchases shares
Anglo has repurchased 736,533 shares at a cost of £14,99 million (R288,35 million). The repurchase is part of the company's buyback programme announced on July 25, 2019.

Middle East Diamond Resources updates on suspension
MEDR, the shares which were suspended on the JSE on December 6, 2016, is currently in negotiations with a company for a potential acquisition. Part of these negotiations require the issue of outstanding financial results which will allow the company to apply to the JSE to lift its suspension

Hwange Colliery suspended on LSE
The company has successfully requested the suspension of its shares on the LSE with effect from February 10, 2020.

Four companies issued profit warning announcements
The following companies issued a profit warning this week: Ecsponent, AngloGold Ashanti, Tiger Brands and Comair.

Six companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Mettle Investments, CA Sales, Conduit Capital, Andulela Investment, Sasfin and Tongaat Hulett.

DealMakers is SA's M&A publication.

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