Weekly corporate finance activity by SA exchange-listed companies

print

Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2020-05-22 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Stor-age Property REIT in equity raise
The company has announced an equity raise through the issue of 21,097,046 new ordinary shares at R11.85 per share. The issue price represents a discount of 4.3% to the volume weighted average traded price of Stor-age shares over the 30 days ended May 20.


Sanlam repurchases shares
The company repurchased 116,363,639 shares at a repurchase price of R56.29 per share for an aggregate R6,55 billion. The shares were held in treasury by its wholly-owned subsidiary Sanlam Life Insurance and represent 4.97% of the issued share capital of the company.


Sappi announces U-turn on senior notes offering
The company has reversed its decision to offer €250 million aggregate principal amount of senior notes due 2025. The company announced the decision was due to unsatisfactory market conditions.


Lighthouse Capital in equity raise
Lighthouse has announced an equity raise through the issue of new ordinary shares for cash at R7.00 per share or in consideration for JSE-listed shares in Hammerson plc or Rockcastle plc at 12,45 LTE shares for one share in NEPI Rockcastle plc or 2,1 LTE shares for one share in Hammerson plc. High demand for the stock necessitated an increase of the amount to be raised from R2 billion to R4,2 billion. 600,000,000 shares were issued either for cash or specified shares. The cash will be used to pursue strategies and opportunities within its investment policy.


Richemont places €2 billion Euro denominated bond
The company has announced that it has successfully placed a Euro denominated bond transaction with three tranches maturing in 2028, 2032 and 2040. The notes are priced with a coupon of 0.750% for the €0.50 billion 8 year maturity note, 1.125% for the €0.85 billion 12 year note and 1.625% for the €0.65 billion 20 year note.


Stellar Capital Partners repurchases shares
The company has repurchased 19,812,867 shares in a price range of R0.62 and R0.71 per share with a total value of R20,3 million.


Quilter repurchases shares
The company has repurchased 2,296,601 shares at a price of R27.65 per share with a total value of R63,5 million.


Esor to delist from the JSE
Esor's application to delist from the JSE was approved on May 13, 2020. The decision follows the Company and its major subsidiary, Esor Construction being placed into business rescue. The record date for the delisting is June 15, 2020.


Seven companies issued a profit warning announcements
The following companies issued profit warnings this week: The Spar, Distell, Tiger Brands, eMEDIA, Hudaco Industries, ISA Holdings and Netcare.


Four companies either issued, renewed or withdrew cautionaries
The following company advised shareholders: Pembury Lifestyle, Famous Brands, Allied Electronics and Accéntuate.


DealMakers is SA's M&A publication.
www.dealmakerssouthafrica.com



...back to DealMakers




Similar Stories